Fiscal revenue sees slower growth

ATAHK Read from Chinadaliy on the date of September 14th 2017

Fiscal revenue sees slower growth From GOVT AND POLICIES

China's fiscal revenue rose at a slower pace in August, dragged by a sharp decline in non-tax incomes, the Ministry of Finance said. Fiscal revenue gained 7.2 percent year-on-year to 1.07 trillion yuan ($165 billion) last month, down from the 11.1-percent growth recorded in July, the ministry said on its website. Due to a high comparison base in August 2016, non-tax incomes dropped 22.5 percent to 174.5 billion yuan. However, revenue from taxes surged 16 percent year-on-year to 890.7 billion yuan last month, higher than the growth rates for both the first half and July of this year. The strong growth in taxes "is mainly driven by factors including the stabilizing economy and rising prices," the ministry said.

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