Aug. 15, 2011 (China Knowledge) - China's fiscal revenue increased by RMB 1.56 trillion or 30.5% year on year to RMB 6.67 trillion in the first seven months of this year, said the Ministry of Finance in a statement published on its website.
In the month of July, the country's fiscal revenue was RMB 968.41 billion, up RMB 208.09 billion or 26.7% year on year.
During the period from January to July, the central government's fiscal revenue increased 26.6% from a year earlier to RMB 3.41 trillion, while local governments' fiscal revenues rose 34.9% to RMB 3.26 trillion, said the statement.
The country's tax revenue was RMB 5.87 trillion during the period, up 28.9% year on year, and its non-tax revenue surged 43.5% year on year to RMB 803.19 billion.
The MOF expected that the country's fiscal revenue growth will further slow down in the remaining months of this year because of slowing economy and the implementation of reform on individual income tax.
China's fiscal expenditure was RMB 5.14 trillion in the first seven months of this year, up 29.7% year on year. Fiscal expenditure by the central government rose 12.4% year on year to RMB 928.66 billion, and that by local governments surged 34.2% to RMB 4.21 trillion.