Government seeks to expand non-tax revenue
China's 2 trillion yuan ($281 billion) tax and fee cut plan continued to pull down government income in October, pushing officials to expand non-tax revenue and maintain stable fiscal spending to support economic growth, according to the Ministry of Finance.
The central and local governments' budgeted income rose 3.8 percent from a year earlier to 16.7 trillion yuan in the first 10 months of this year, slower than the 7.4 percent growth rate in the January-to-October period in 2018, the ministry reported on Tuesday.
By comparison, fiscal spending reached a total of 19.06 trillion yuan from January to October, up by 8.7 percent from a year earlier, and 1.1 percentage points higher than the growth rate in the same period in 2018, the official data indicated.