China's fiscal revenue increased by 5.1% year-on-year in the first three quarters

China News Service, Beijing, October 23 (Reporter Zhao Jianhua) Data released by the Ministry of Finance of China on the 23rd showed that in the first three quarters of this year, the national general public budget revenue was 17.2292 billion yuan (RMB, the same below), a year-on-year increase of 5.1%. Among them, national tax revenue was 14,070.6 billion yuan, an increase of 6.1%; non-tax revenue was 3,158.6 billion yuan, an increase of 1.2%.

At a press conference held by the Ministry of Finance that day, Ma Hongbing, deputy director of the Treasury Department of the Ministry of Finance, said that the country's fiscal operations are generally stable and the growth rate of tax revenue has increased. In the first three quarters, the growth rate of the national general public budget revenue increased by 0.4 percentage points compared with the first half of the year. This was mainly due to the overall stable performance of China's economy and its continued development trend of new and better development. At the same time, factors such as rising prices, active stock markets, and strong growth in foreign trade also strongly supported the growth of fiscal revenue.

In the first three quarters, the growth rate of national tax revenue increased by 0.8 percentage points compared with the first half of the year. Ma Hongbing introduced that in terms of tax types, domestic value-added tax increased by 6%, mainly driven by the continued growth of industry and service industries, and the increase in ex-factory prices for industrial producers; value-added tax and consumption tax on imported goods increased by 12.7%, mainly due to the rapid growth of foreign trade imports; corporate income tax increased by 7.1%, mainly due to the increase in corporate profits. At the same time, non-tax revenue growth fell.

In the first three quarters, local general public budget revenue increased by 2.7% year-on-year, which was the same as in the first half of the year. Ma Hongbing said that from a regional perspective, income in the eastern, central, western and northeastern regions all maintained growth. Among the 31 provinces, 28 provinces saw income growth.

Data released by the Ministry of Finance also showed that in the first three quarters, the national general public budget expenditure was 21.0199 billion yuan, a year-on-year increase of 1%. Ma Hongbing said that investment-related expenses are well protected. Among the country's main expenditure areas, health expenditure increased by 7.7%, mainly due to an increase in childcare subsidies; social security and employment expenditures increased by 5.2%; housing security expenditures increased by 3.1%; science and technology expenditures increased by 3%; and education expenditures increased by 1.1%.