China's July fiscal revenues rise 26.7%

Updated: 2011-08-11 15:21


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BEIJING-- China's Ministry of Finance said on Thursday that the country's fiscal revenues rose 26.7 percent year-on-year to 986.41 billion yuan ($154.13 billion) in July.

The central government posted revenues of 522.86 billion yuan last month, a rise of 24.5 percent year-on-year, the ministry said in a statement on its website. Local governments claimed the rest of the money.Expenditures increased by 19.6 percent from one year earlier to hit 694.99 billion yuan last month.

For the first seven months of this year, the country's national fiscal revenues jumped 30.5 percent from a year earlier to reach 6.67 trillion yuan.

Expenditures rose 29.7 percent to 5.14 trillion yuan during the first seven months, which meant the country had a fiscal surplus of 1.53 trillion yuan.

The ministry said 28.9 percent of the country's January-July fiscal revenues came from taxes.

In July alone, corporate income taxes rose 34.4 percent to 262.3 billion yuan, while consumption taxes climbed 10.4 percent to 54.86 billion yuan.

Fiscal revenues in China include taxes, administrative fees and other sources of government funding such as fines and income from state-owned assets.