BEIJING — China's fiscal revenue jumped 24.2 percent year-on-year in the first five months of 2021, official data showed on June 17.

According to data released by the Ministry of Finance, the country's fiscal revenue reached nearly 9.65 trillion yuan (about $1.5 trillion) during the reporting period.

Tax revenue came in at nearly 8.38 trillion yuan in the January-May period, up 25.5 percent year-on-year.

Revenue from value-added tax, the largest source of fiscal revenue in the country, jumped 24 percent from a year earlier, while stamp tax revenue saw an increase of 42.9 percent.

The central government and local governments collected 4.57 trillion yuan and 5.07 trillion yuan in fiscal revenue, respectively, with a year-on-year rise of 27 percent and 21.7 percent.

June 17's data also showed that China's fiscal spending went up 3.6 percent year-on-year to 9.36 trillion yuan in the five-month period.

Fiscal spending on education rose 12.1 percent year-on-year, while that on social security and employment went up 6.6 percent, and health and medical care 4.7 percent, according to the ministry.