Stock Groups

China says 2021 fiscal revenues rise 10.7% yr/yr -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – A man is seen standing on the street in Pudong, Shanghai’s financial district. August 11, 2014. REUTERS/Carlos Barria

BEIJING, (Reuters) – China’s fiscal revenue rose 10.7% to $20.25 trillion yuan in 2021, compared with a year ago. This was according to Vice Finance Minister Xu Hongcai on Tuesday.

Xu said that fiscal expenditures increased 0.3% from a year ago to 24.63 trillion yuan in 2021.

Xu stated that China reduced taxes and fees by more than 1 trillion yuan in the past year.

Xu indicated that in order to alleviate the downturn in the economy the government will announce higher tax and fee increases in 2022.

To ease local government’s fiscal stress and provide the expected tax and fees cuts, he stated that the central government would boost its transfer payments.

($1 = 6.3281 renminbi)

yuan renminbi)

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from relying on data including charts, buy/sell signals, and quotes. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]