2023-08-28T09:58:00+03:00 China 2024-09-15T05:11:09+03:00

Ukrainian news

China's general public budget revenue up 11.5 pct in first seven months

China's general public budget revenue up 11.5 pct in first seven months

China's general public budget revenue increased 11.5 percent year on year to around 13.93 trillion yuan (about 1.94 trillion U.S. dollars) in the first seven months of this year, official data showed. This was reported by The Xinhua News Agency.

The central government collected about 6.38 trillion yuan in revenue, up 11.2 percent year on year, while local governments saw revenue increase 11.8 percent to about 7.55 trillion yuan, according to the Ministry of Finance.

Tax revenue totaled 11.75 trillion yuan in the first seven months, up 14.5 percent year on year.

This  data also shows that the country's general public budget spending expanded 3.3 percent year on year to 15.16 trillion yuan during the period.

Sectors related to health, social security and employment, education as well as agriculture, forestry and water conservancy registered relatively faster growth in fiscal spending, according to the ministry.