China Nov Fiscal Revenue Up 10.6% y/y vs +16.9% In Oct
BEIJING (MNI) - China's fiscal revenue grew 10.6% y/y in November to CNY645.7 billion, the Ministry of Finance said.
The slower growth, compared with a 16.9% increase in October, was the result of the slowing and falling tax revenues as a result of declining auto and property transactions, as well as a rise in the individual income tax threshold and an increase in export tax rebate, the ministry said.
Fiscal revenue rose 26.8% year to date to CNY9.73trillion.
The Finance Ministry also said fiscal expenditure rose 7.5% to CNY1.14 trillion in November and was up 24.3% in the year so far at CNY8.9 trillion.
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