Economy

China reports 55.8 pct rise in Dec. fiscal revenue

(Xinhua)
Updated: 2010-02-05 17:39
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China's fiscal revenue for last December reached 508.4 billion yuan (US$74.45 billion), up 55.8 percent year on year, the Ministry of Finance (MOF) announced Friday.

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Of the total, the central fiscal revenue topped 183.1 billion yuan, up 140 percent from December 2008, while local governments collected 325.3 billion yuan, up 30.2 percent, the MOF said in a statement on its official website.

The ministry attributed the robust revenue growth to a relatively low comparison basis in December 2008, surging consumption tax takes after the oil tax and fees reforms, and rising business tax boosted by a strong domestic property market.

Overall fiscal revenue last year topped 6.85 trillion yuan, up 11.7 percent from 2008, according to the statement.
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