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China Aug. fiscal revenues up 34% on growth, inflation

09-14-2011 09:04 BJT

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China took in more taxes than it spent on government programs in August. The nation's fiscal revenue rose nearly 35 percent and while fiscal expenditures rose nearly 26 percent from a year earlier, according to the Ministry of Finance on Tuesday.

The growth in revenues was driven mainly by economic growth, inflation, and higher oil prices. Key growth was seen in personal income taxes, trade, consumer taxes, and taxes on car sales.

The Ministry says fiscal revenue may grow at a slower clip in the coming months due to moderating economic growth and a higher threshold on personal income taxes that came into effect September 1st.

Government spending rose by over a quarter from a year earlier to more than 800 billion yuan, or 125 billion dollars. Key growth areas include healthcare, transportation, agriculture and forestry, social security and employment.

Editor:Li Wanran |Source: CNTV.CN

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