China's fiscal revenue rises 13.4% in September

Date : 2013-10-21  | From : Xinhua

China's fiscal revenue continued to grow amid an economic warm-up, according to the Ministry of Finance on Friday.

China's fiscal revenue climbed 13.4 percent year on year in September to 936.2 billion yuan (152.48 billion U.S. dollars), the ministry said on Friday. Revenue growth accelerated from a 9.2-percent increase registered in August.

In the first nine months, the country's fiscal revenue expanded 8.6 percent from a year earlier to 9.84 trillion yuan. The pace was 0.5 percentage points higher than that of the first eight months, but 2.3 percentage points lower year on year.

In 2012, China's fiscal revenue saw a 12.8 percent year-on-year increase.

In September, the central government's fiscal revenue rose by 15.5 percent over the same period last year to 423.2 billion yuan due to economic warm-up and improving trade.

Local governments saw fiscal revenue up 11.7 percent year on year to 513 billion yuan.

Fiscal revenue in China includes taxes, administrative fees and other government income, including fines and earnings from state-owned assets.

China's gross domestic product growth accelerated to 7.8 percent in the third quarter, well above the government's full-year target of 7.5 percent.

As for expenditures, the ministry said the country's fiscal spending climbed 8.8 percent year on year to 9.15 trillion yuan in the first nine months.

Central government spending rose 2.8 percent while that of local government went up 10 percent year on year.