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China's fiscal revenue up 13.1% in Jan-Feb

Mar. 12, 2012 (China Knowledge) - China's fiscal revenue rose 13.1% year on year to RMB 2.09 trillion in the first two months of this year, according to the latest statistics released by the Ministry of Finance.
The central government's fiscal revenue increased 11.3% from a year earlier to RMB 1.06 trillion during the period, while local governments' fiscal revenues rose 15% to RMB 1.03 trillion, said the statement.

The country's tax revenue increased 9.5% year on year to RMB 1.85 trillion during the 2-month period, and its non-tax revenue surged 51.1% to RMB 241.69 billion.

Statistics showed that value-added tax, domestic goods and services tax and business tax was RMB 44562 billion, RMB 178.69 billion and RMB 293.50 billion, up 1.9%, 14.4% and 5.9% year on year, respectively.

China's fiscal expenditure was RMB 1.39 trillion during the period, up 32.8% year on year. Fiscal expenditure by the central government rose 25.2% year on year to RMB 231.29 billion, and that by local governments surged 34.5% to RMB 1.16 trillion.

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