2.7% decrease in China’s general budget revenues during the period January-April

BEIJING, 21 MAY / WAM / China’s general budget revenues fell by 2.7 percent year on year to reach 8.09 trillion yuan (1.14 trillion US dollars) in the first four months of 2024, according to the Chinese Ministry of Finance.

The Chinese news agency Xinhua reported that the central government collected 3.53 trillion yuan in revenue, a decrease of 6.2 percent year on year, while local governments saw an increase in revenue of 0.1 percent to reach 4.57 trillion yuan.

Total tax revenues reached 6.69 trillion yuan during the period between last January and April, down 4.9 percent year on year.

Data issued by the ministry also show that public budget spending increased by 3.5 percent year on year to reach 8.95 trillion yuan during the aforementioned period.

Public budget revenues refer to the income allocated to finance the government through participation in the distribution of social products. It is the financial guarantee for the government’s work.

– Excuse me.