- CNTV English - CCTV News

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

09-14-2011 09:04 BJT

Watch Video

Play Video

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

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program