China's Fiscal Revenue Dipped 1.4% Last Month Amid Decline in Land Tax
Xu Wei
/SOURCE : Yicai
China's Fiscal Revenue Dipped 1.4% Last Month Amid Decline in Land Tax

(Yicai Global) Dec. 11 -- China's fiscal revenue slipped 1.4 percent on the year to CNY1.14 trillion (USD173 billion) last month as non-tax incomes and revenue from farmland occupation and urban land-leasing taxes declined, the Ministry of Finance said in a statement today.

Tax revenues rose by 2.6 percent annually to CNY877.9 billion, while non-tax revenues slumped 12.9 percent to CNY260.6 billion. National general public budget income grew by 8.4 percent to CNY16.17 trillion over the first 11 months of the year.

Fiscal expenditure in November was down 9.1 percent to CNY1.66 trillion, though the central government spent 8.7 percent more than the same month last year, CNY248.9 billion. Outgoings at local governments dipped 11.6 percent to CNY1.41 trillion. The decline is mainly attributable to the government expediting expense arrangements this year, the ministry said, adding that heavy outgoings early in the year led to reduced numbers in the later months.

National fiscal expenditure over the first 11 months grew by 7.8 percent to CNY17.96 trillion.

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Keywords: Ministry of Finance , Fiscal Revenue , Fiscal Expenditure