Off the wire
• Chinese president appoints new ambassadors  • 1st LD: Cyprus leaders at critical point as peace talks kick off: UN chief  • China urges U.S. to respect Philippines' independent foreign policy  • China takes strategic view of Latin America, Caribbean ties: senior official  • Japan, Kazakhstan agree to cooperate on nuclear, economic issues  • Israel jails Palestinian teen for stabbing attack  • Singapore's Ministry of Defence signs contracts to acquire new helicopters  • China mulls sharing blacklist of telecom scammers  • 1st LD Writethru: Bomb attack rocks Afghan capital, injuring one  • 2nd LD-Writethru-Xinhua Insight: China adopts cybersecurity law to protect national security, citizens' rights  
You are here: 　 Home

China's top legislature approves bill to adjust 2016 central budget

Xinhua, November 7, 2016 Adjust font size:

China's top legislature on Monday approved the bill on the adjustment of the country's 2016 central budget to reflect changes brought by tax reform.

Revenue in the central government's general public budget was adjusted to 7.235 trillion yuan (1.07 trillion U.S. dollars), up 178 billion yuan from the amount projected earlier this year, according to a statement from the National People's Congress (NPC) Standing Committee.

Expenditures from the central government's general public budget have been adjusted to 8.7665 trillion yuan.

The adjustment was made to reflect changes brought by China's value-added tax reforms.

Starting in May, China expanded a pilot program to finally put all industries under a unified value-added tax regime as part of a wider push to deepen the country's economic reform. Endi