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China fiscal revenue growth picks up in Nov

Updated: Dec 12,2014 2:08 PM     Xinhua

BEIJING — China’s fiscal revenue rose 9.1 percent year on year in November to 995.3 billion yuan ($162.6 billion), slowing from the 9.4-percent rise seen in October, the Ministry of Finance said on Dec 11.

Central government revenue reached 480.1 billion yuan, up 12.1 percent year on year, while local government revenue stood at 515.2 billion yuan, up 6.4 percent from the same period last year.

The ministry attributed the growth of the central government’s revenue to the rise in revenue collected from financial institutions.

In the first eleven months, national fiscal revenue rose 8.3 percent to 12.96 trillion yuan.

During this period, central government fiscal revenue expanded 7 percent year on year, while local government revenue increased 9.5 percent.

The ministry also said that national fiscal expenditures rose 0.8 percent to 1.28 trillion yuan in November.

In the first eleven months, national spending rose 10.1 percent to 12.63 trillion yuan.

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