China’s fiscal revenue stands at USD 2.56T in 9 months

2021-10-27 03:15:27

(MENAFN) According to reports by state-owned news outlet Xinhua, China's fiscal revenue increased up to 16.3 percent in the period of January-September of the current year.

Furthermore; the report quoted Finance Ministry data as saying that the country's fiscal income reached 16.4 trillion yuan (USD2.56 trillion) during the mentioned nine months.

During the mentioned time span, the government's tax revenue amounted at 14.07 trillion yuan (about USD2.20 trillion) – rising up to 18.4 percent every year.

The largest source of fiscal revenue in China, revenue from value-added tax, rose 17.4 percent compared to the previous year same time span when it reached 5.01 trillion yuan (USD 7.85 trillion).

Local government revenue soared 15.6 percent to 8.75 trillion yuan (about USD 1.37 trillion), as the central government's fiscal revenue jumped 17.1 percent to 7.65 trillion yuan (about USD 1.19 trillion).

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