China's general public budget revenue rises to $727b in first two months

China's general public budget revenue reached 4.62 trillion yuan ($727 billion) in the first two months of the year, up 10.5 percent year-on-year from 2021, the Ministry of Finance said on Friday.

During the January-February period, the central government registered about 2.28 trillion yuan in fiscal revenue, up 11.3 percent year-on-year, while local governments saw fiscal revenue go up 9.8 percent to 2.34 trillion yuan.

The ministry said the growth of the country's fiscal revenue was mainly fueled by such factors as the continued economic recovery and the factory-gate price inflation, which remained at an elevated level.

Late last year, the Ministry of Finance funneled 1.46 trillion yuan from the 2022 quota of special bonds to local governments in advance, indicating the implementation of the government's proactive fiscal policy aimed at preventing the risk of economic slowdown in the first quarter of this year.

As of the end of February, 877.5 billion yuan of local government special bonds had been issued, accounting for over 60 percent of the quota, the ministry said.

ouyangshijia@chinadaily.com.cn