BEIJING – China's fiscal revenue rose 10.7 percent year-on-year to hit 20.25 trillion yuan (about $3.19 trillion) in 2021, Xu Hongcai, vice-minister of finance, said Tuesday.
The Chinese central government collected about 9.15 trillion yuan in revenue, up 10.5 percent year-on-year, while local governments saw revenue up 10.9 percent to 11.1 trillion yuan
The fiscal revenue in 2021 nearly doubled from the 2012 figure of 11.73 trillion yuan, Xu said at a press conference.
The central government collected about 9.15 trillion yuan in revenue, up 10.5 percent year-on-year, while local governments saw revenue up 10.9 percent to 11.1 trillion yuan.
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"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 percent year-on-year to 24.63 trillion yuan last year.