BEIJING, Nov. 15 -- China's general public budget revenue increased 8.1 percent year on year to 18.75 trillion yuan (about 2.61 trillion U.S. dollars) in the first 10 months of 2023, official data showed on Wednesday.

The central government collected 8.59 trillion yuan in revenue, up 7.3 percent year on year, and local governments saw revenue increase 8.8 percent to 10.16 trillion yuan, according to the Ministry of Finance.

Tax revenue totaled 15.78 trillion yuan in the first 10 months, up 10.7 percent year on year.

Wednesday's data also shows that general public budget spending expanded 4.6 percent year on year to 21.57 trillion yuan in the first 10 months.

General public budget revenue refers to income for government finance through participation in the distribution of social products. It is the financial guarantee to ensure government functioning.