China's Ministry of Finance has released data on the country's finance status in 2008. Fiscal spending surpassed income by 111 billion yuan, and spending was three percent higher than expected in the beginning of 2008.
Ministry data shows China's fiscal income was more than six trillion yuan in 2008, up by nearly 20 percent year on year, while fiscal spending was 6.2 trillion yuan, up by a quarter. Fiscal income of the first half of 2008 grew by one third year on year, slowing to just five percent in the second half.
CHINA'S FISCAL STATUS IN 2008:
Fiscal income: 6.13 trln yuan, up 19.5%
Fiscal spending: 6.24 trln yuan, up 25.4%
Fiscal income in first half up 33.3%
Fiscal income in second half up 5%
Source: Ministry of Finance
(CCTV February 4, 2009)
