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People's Daily Online>>China Business

China's fiscal revenue growth slows to 10.6 pct in November (2)


09:24, December 12, 2011

China's fiscal expenditure increased 7.5 percent year-on-year to 1.14 trillion yuan in November, said the ministry.

In the first 11 months of the year, China's fiscal revenues rose 26.8 percent year-on-year to top 9.73 trillion yuan while its fiscal expenditure went up 24.3 percent to 8.9 trillion yuan, it said.

China will maintain its proactive fiscal policy next year, according to a statement released after a meeting of the Political Bureau of the Communist Party of China Central Committee on Friday.

Xia Bin, a member of the monetary policy committee of the People's Bank of China, or the central bank. said China still has room to pursue a proactive fiscal policy, given the country's deficit conditions.

The government budgeted a fiscal deficit of 900 billion yuan for 2011, down from 950 billion yuan in 2009 budget and 1.05 trillion yuan in 2010 budget.

Fiscal policies play a key role in economic restructuring, which is crucial for sustaining the country's growth, said Xia.

He urged reforming the fiscal spending structure to better support strategic industries, small businesses and sectors like social security, health care and education that can help boost domestic consumption.

【1】 【2】

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