(Yicai Global) Sept. 11 -- China's public budget revenue increased by 7.2 percent annually to USD163.57 billion (CNY1.07 trillion) in August and public budget expenditure rose 2.9 percent to USD224.92 billion, the Ministry of Finance said.

Of budget revenue, tax revenue was USD136.78 billion, up 16 percent annually. Its growth rate picked up from the first seven months of this year, mainly due to smooth economic operation and price surges, the ministry said today. Non-tax revenue dropped by 22.5 percent annually to USD26.8 billion.

The cumulative budget revenue was USD1.86 trillion in the first eight months of this year, up 9.8 percent annually. Revenue from the central budget went up 9.3 percent to USD883 billion, and revenue from the local budget grew 10.2 percent to USD981.3 billion.

Cumulative public budget expenditure totaled USD2.02 trillion in the first eight months of this year, up 13.1 percent. The growth rates of education spending, technology spending, social security and employment spending, and culture, sports and media spending were 14.6 percent, 18 percent, 21.5 percent and 14.2 percent, respectively.

The revenue from the stamp duty was USD2.69 billion in August, down 8.9 percent annually. Revenue from the stamp tax imposed on securities trading was USD1.43 billion, down 29.1 percent.