The fiscal revenue of the People’s Republic of China rose 10.7 per cent year-on-year to hit 20.25 trillion yuan (about US$3.19 trillion) in 2021, Xu Hongcai, vice-minister of finance, said Tuesday (January 25).
The fiscal revenue in 2021 nearly doubled from the 2012 figure of ¥11.73 trillion, Xu said at a press conference.
The central government collected about ¥9.15 trillion in revenue, up 10.5 per cent year on year, while local governments saw revenue up 10.9 per cent to ¥11.1 trillion.
“The recovery of economic growth and higher producer prices helped drive up fiscal revenues of central and local governments,” Xu said.
The country’s fiscal spending edged up 0.3 per cent year on year to ¥24.63 trillion last year.