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China's fiscal revenue up 10.9% in Jan-Sep

Oct. 19, 2012 (China Knowledge) - China's fiscal revenue rose 10.9% YoY to RMB 9.06 trillion in the first nine months of this year, according to the latest statistics released by the Ministry of Finance.
The central government's fiscal revenue increased 6.8% from a year earlier to RMB 4.48 trillion during the period, while local governments' fiscal revenues rose 15.2% to RMB 4.58 trillion, said the statement.

The country's tax revenue increased 8.6% YoY to RMB 7.74 trillion during the nine-month period, and its non-tax revenue surged 27.1% to RMB 1.32 trillion.

Statistics showed that value-added tax, domestic goods and services tax and business tax was RMB 1.93 trillion, RMB 612.2 billion and RMB 1.16 trillion, up 5.8%, 10.8% and 12.1% YoY, respectively.

China's fiscal expenditure was RMB 8.41 trillion during the period, up 21.1% YoY. Fiscal expenditure by the central government rose 14.6% YoY to RMB 1.39 trillion, and that by local governments surged 22.4% to RMB 7.02 trillion.

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