Fiscal Revenue up 27.6% in H1

BEIJING, July 16 -- China's fiscal revenue rose 27.6 percent in the first six months from a year earlier to 4.33 trillion yuan ($639.74 billion), said the Ministry of Finance (MOF) Thursday.

From January to June, tax revenues increased by 30.8 percent from the same period last year to 3.86 trillion yuan, the ministry said in a statement on its official website.

Among the total, central fiscal revenue grew by 28.6 percent to stand at 2.28 trillion yuan, while local governments collected 2.06 trillion yuan, up 26.5 percent, according to the statement.

The MOF figures also showed that China's June fiscal revenue stood at 787.94 billion yuan, an increase of 14.7 percent year on year. The monthly growth rate was down from May's 20.5 percent.

The ministry attributed June's slower growth to a relatively high comparison base with June last year when the fiscal revenue was up 19.6 percent after a decline of 9.9 percent in the first four months and growth of 4.8 percent in May.