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November Fiscal Revenue Up 16.1%

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China's fiscal revenue rose 16.1 percent year on year in November to 584.07 billion yuan (US$87.7 billion), taking the figure for the first 11 months to 7.67 trillion yuan, the Ministry of Finance announced Friday.

The central government collected 287.78 billion yuan of the November fiscal revenue and local governments collected the rest, the MOF said in a statement on its website.

Fiscal revenue in the January-November period grew 21.1 percent from a year earlier, mainly boosted by a growth in tariffs, import value-added taxes, and vehicle purchase taxes as imports and auto sales surged, the statement said.

National fiscal spending in November jumped by 66.9 percent year on year to 1.06 trillion yuan.

For the first 11 months, nationwide expenditure increased 27.3 percent year on year to 7.16 trillion yuan, the statement said.

China's imports rose by 37.7 percent to US$130.43 billion in November, bringing the January-November figure to US$1.25 trillion, up 40.3 percent year on year, the General Administration of Customs (GAC) said Friday.

Data from the China Association of Automobile Manufacturers (CAAM) showed China's auto sales hit 16.4 million in the first 11 months, raising the forecast for the whole year sales to 18 million units from 17 milleion units.

(Xinhua News Agency December 11, 2010)


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