China’s fiscal revenue up 13.6% in Q1

2018-04-09
Xinhua

BEIJING — China’s fiscal revenue rose 13.6 percent year-on-year in the first quarter, the Ministry of Finance (MOF) said in a statement on April 9.

The stable growth was mainly driven by a faster increase in tax revenue, as businesses posted better profits amid solid economic growth, according to the MOF. Tax revenue accounted for 87.7 percent of fiscal revenue during the January-March period, up 2.5 percentage points from the year-earlier level.

The MOF cited an increase in factory activity, improving services, robust consumption and steady foreign trade.