China's fiscal income record high in 2011

Note: This section contains information in English only.
Source: China.org.cn
China's fiscal income achieved a record high level of 10.37 trillion Yuan last year, reflecting 25% increase from the preceding year, according to the Ministry of Finance. Analysts suggest that the accelerating revenues growth may allow more tax reductions and economic stimulus to prevent hard lending. At the same time, fiscal spending attained 10.89 trillion Yuan last year, indicating an increase of 21.2% from 2010 and implying 519 billion Yuan deficit, or about 1.1 % of the GDP.



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