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China's 2011 fiscal revenue up 24.8%

01-21-2012 10:54 BJT Special Report:China's Economic Data |

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China's fiscal revenue jumped by around 25 percent in 2011, to a record 10.37 trillion yuan. That’s around 1.64 trillion U.S. dollars. Analysts say, this means the Chinese government can increase its financial firepower, to help manage slowing economic growth in country.

The full-year fiscal deficit stood at 519 billion yuan.

China’s Ministry of Finance says strong revenue growth reflects the country's rapid economic expansion, and robust corporate profits. Corporate income tax, value-added taxes and import duties rose during the period.

The government’s fiscal expenditure on education jumped more than 28 percent, healthcare was up more than 32 percent, and transport increased by 36 percent.

 

Editor:Zhang Rui |Source: CNTV.CN

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