China Financial Daily

May National 656.947 billion yuan year-on-year revenue growth of 4.8%
National financial income

In May, the National 656.947 billion yuan of fiscal revenue, the same month last year increased 30.132 billion yuan, an increase of 4.8%. Among them, the central level 406.343 billion yuan revenue, an increase of 5.7%; local level 250.604 billion yuan revenue, an increase of 3.3%. The main income items: domestic value-added tax fell 4.7 percent, domestic consumption grew 91.2 percent tax (excluding income tax reform of refined oil increased by 9.1% in real), sales tax, an increase of 14%, corporate income tax fell 8.9 percent, personal income grew 0.9 %, imports of value-added tax, consumption tax fell 18.9% year-on-year, fell 36.9 percent tariff, stamp duty on stock transactions fell 39.8% year-on-year, vehicle purchase tax fell 4.7 percent, exports grew 8.5 percent rebate (a corresponding reduction in financial income), non-tax an increase of 1.3 times income.

Cumulative January-May, the country’s financial revenues 2.710867 trillion yuan, 40.9 percent of the budget than the 195.57 billion yuan last year, down 6.7%. Among them, the central level of income 1.421716 trillion yuan, up 14 percent decline; local level income 1.289151 trillion yuan, an increase of 2.9%. Revenue of 2.404651 trillion yuan of tax revenue, decreased 9.4 percent year-on-year; 306.216 billion yuan of non-tax revenue, an increase of 21.2%.

Decline in national revenue main reasons: First, economic growth, declining enterprises, reduction of fiscal revenue sources; secondly, to implement the proactive fiscal policy, structural tax and to increase the export tax rebate policy to reduce a lot; Third, PPI, CPI dual-drop, the corresponding current prices so that the financial revenue.

National fiscal expenditure

In May, the National 460.801 billion yuan of financial expenditure, the same month last year increased 58.338 billion yuan, an increase of 14.5%. Among them, the central level expenditures 98,231,000,000 yuan, up 0.7 percent decline, mainly last year’s earthquake in May increased expenditure, the expenditure base of the higher (in May last year, the central level expenditures 54.5 percent growth); local level expenditure 362570000000 yuan, up 19.5 percent.

Cumulative January-May, the National 2249.698 billion yuan of financial expenditure, 29.5 percent of the budget, more than 488.717 billion yuan last year, an increase of 27.8%. Among them, the central expenditure of 459.302 billion yuan level, an increase of 21.4%; local level expenditure 1.790396 trillion yuan, up 29.5 percent.

5 months before the national financial expenditure growth is mainly the project: environmental protection expenditures grew 93.5 percent, agriculture, forestry, water services spending up 89.6 percent, transportation 80 percent growth year-on-year expenditure, health expenditure grew 40.1 percent, social security and employment growth of 32.2 percent year-on-year spending, science and technology spending grew 28.2% year-on-year growth of foreign expenditure 26%, urban and rural community affairs expenditures grew 20.4 percent, education expenditure grew 16.4 percent. Focus on accounting for the above-mentioned increase in expenditure over the same period to increase the amount of financial expenditure of around 75%.

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