Latest News:  
Beijing   Sunny/Cloudy    13 / 1 ℃  City Forecast

English>>Business

China's fiscal revenues rise 21.9 pct in November

(Xinhua)

13:31, December 11, 2012

BEIJING, Dec. 11 (Xinhua) -- China's fiscal revenues grew 21.9 percent year-on-year to 787.1 billion yuan (about 125.12 billion U.S. dollars) in November, the Ministry of Finance (MOF) said Tuesday.

The growth rate was higher than the 13.7-percent rate recorded in October, according to the MOF data.

The ministry said the sharp increase was mainly caused by a lower comparison base last year. On a month-on-month basis, fiscal revenues in November were down 257.3 billion yuan.

Last month, incomes for central government grew by 17.9 percent year-on-year to 367.2 billion yuan, while that of local governments was up 25.6 percent to 419.9 billion yuan.

Tax revenues, the main source of the government's income, rose 21.1 percent from a year earlier to 676 billion yuan last month.

During the first 11 months, fiscal revenues totaled 10.89 trillion yuan, a rise of 11.9 percent year-on-year. But the rate was down from the 26.8-percent growth in the same period of last year, the ministry said.

It attributed the lower growth rate to the economic slowdown, declines in corporate profits, eased consumer inflation and government structural tax reduction efforts.

In November, government fiscal expenditure rose 6.7 percent from a year earlier to 1.22 trillion yuan, sending the total spending in the first 11 months to 10.49 trillion yuan, according to the ministry.

We recommend:

'Boeing Dreamliner riddled with errors

HK tops China City Competitiveness Ranking

China's electric rail mileage ranked world's first

10th China Int'l Automobile Exhibition concludes

Harbin-Dalian high-speed railway starts operation

New wave of communication tools

Alibaba's 2012 transaction volume hits 1 trln yuan

China's savings rate world's highest

iPhone 5 launch event held in Seoul, S. Korea

Email|Print|Comments(Editor:李倩、梁军)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. China's WZ-10 armed copters in training

  2. PLA recruits to join army units

  3. Unforgettable moments you cannot miss

  4. Fantastic undersea world in Indonesia

  5. Cumquat market in S China's Guangxi

  6. Skyscraper Shanghai Tower

  7. 2013's holiday dates cause upset for some

  8. When Weibo meets WeChat

Most Popular

Opinions

  1. Translation industry needs legislation and regulation
  2. Mo mania's impact on Chinese writing
  3. Turning point in China's economy growth at hand
  4. Long way for CNOOC after Nexen takeover approval
  5. More translations needed for Chinese literature
  6. Commentary: Western powers should drop bias
  7. Stock market needs regulation, not promotion
  8. BRICS economies are not fading
  9. Debate over gaokao policy heats up
  10. A survey on lunch in Beijing's primary schools

What’s happening in China

Cumquat market in S China's Guangxi

  1. 'Smiling rainbow' brightens city sky
  2. China to protect 1,000 minority villages
  3. Building catches fire in Shanghai's Pudong
  4. Computerized welfare lottery sales hit 100 bln RMB
  5. Foreigners asked to retrace Long March