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China's fiscal revenue up 14.5% in first 10 months

Updated: Nov 19,2021 18:57    Xinhua

BEIJING — China's fiscal revenue logged a year-on-year increase of 14.5 percent in the first 10 months of the year, official data showed on Nov 19.

The country's fiscal revenue amounted to 18.15 trillion yuan (about $2.8 trillion) during the period, according to data from the Ministry of Finance.

Tax revenue came in at 15.65 trillion yuan in the January-October period, up 15.9 percent year-on-year.

Revenue from value-added tax, the largest source of fiscal revenue in the country, jumped 15.1 percent from a year earlier to 5.54 trillion yuan.

The central government and local governments collected 8.47 trillion yuan and 9.69 trillion yuan in fiscal revenue, up 15 percent and 14.1 percent, respectively.

The data also showed that China's fiscal spending increased 2.4 percent year-on-year to 19.4 trillion yuan in the first 10 months.

Fiscal spending on education rose 4.8 percent year-on-year, while health and medical care spending grew by 2.3 percent, the ministry said.

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