China reports 32.6% rise in fiscal revenue for Nov.
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China's fiscal revenue for November reached 502.93 billion yuan (73.64 billion U.S. dollars), up 32.6 percent year on year, the Ministry of Finance (MOF) announced Friday.
Overall fiscal revenue in the first 11 months topped 6.34 trillion yuan, up 9.2 percent year on year, said a report on the MOF website.
Of the total fiscal revenue for November, the central government collected 273.47 billion yuan, up 34 percent year on year, while local governments collected 229.46 billion yuan, up 31 percent year on year.
The ministry attributed the rise in fiscal revenue to the growing economy, which had helped drive up tax takes, and to the low basis figures of last year and the increased tax takes after oil tax and fees reforms.
Of the total fiscal revenue for January-November, the central government collected 3.41 trillion yuan, up 6.7 percent year on year, while local governments collected 2.93 trillion yuan, up 12.1 percent.
In the first 11 months, consumption tax was up 86.7 percent year on year; corporate income tax up 3.6 percent; individual income tax up 5.3 percent; while duty tax income was down 21.5 percent; and stamp tax was down 52.6 percent.
Meanwhile, fiscal expenditure grew 20.9 percent to 634.99 billion yuan in November year on year. Fiscal expenditure rose 22.7 percent to 5.62 trillion yuan in the first 11 months year on year.
The major expenditure sectors for the first 11 months included transport, up 72.4 percent; agriculture, forestry and water management, up 44.9 percent; environmental protection expenditure, up 38.5 percent; and science and technology, up 30.3 percent, according to the ministry.
