Latest News:  

English>>Business

Full text: Report on China's central, local budgets (2)

(Xinhua)

21:05, March 19, 2013

Graphics shows the balance of local government finances of China in 2012, according to the report on the implementation of central and local budgets in 2012 and on draft central and local budgets for 2013, which was submitted for review on March 5, 2013 at the first annual session of the 12th National People's Congress and was adopted on March 17.(Xinhua/Gao Wei)

The revenue of local governments came to 6.107733 trillion yuan, an increase of 16.2%. Adding the 4.538347 trillion yuan in tax rebates and transfer payments from the central government, local government revenue totaled 10.64608 trillion yuan. Local government expenditure amounted to 10.694745 trillion yuan, up 15.3%. Adding the 200 billion yuan used to repay the principal on local government bonds and the 1.335 billion yuan carried forward to 2013, local government expenditure totaled 10.89608 trillion yuan. Total expenditure by local governments exceeded total revenue by 250 billion yuan.

The following is a breakdown of main items in the central budget in 2012:

1) Main revenue items

Domestic VAT revenue was 1.967847 trillion yuan, 97.2% of the budgeted figure. This shortfall was mainly due to small increases in the value-added of industry and the CPI. Domestic excise tax revenue was 787.214 billion yuan, 102.2% of the budgeted figure; revenue from VAT and excise tax on imports amounted to 1.479641 trillion yuan, 99.7% of the budgeted figure; and revenue from customs duties came to 278.274 billion yuan, 103.4% of the budgeted figure. Corporate income tax revenue was 1.208218 trillion yuan, 108.7% of the budgeted figure. It exceeded the budgeted figure largely because actual corporate income tax revenue for 2011 exceeded estimates on which tax was collected that year, with the remainder paid in 2012. Individual income tax revenue was 349.261 billion yuan, 102.7% of the budgeted figure; VAT and excise tax rebates on exports came to 1.042888 trillion yuan, 104.8% of the budgeted figure; and non-tax receipts totaled 284.878 billion yuan, 100.8% of the budgeted figure.

Central government revenue exceeded the budgeted figure by 21.242 billion yuan in 2012. Of this, 2.827 billion yuan from surplus vehicle purchase tax revenue was used to increase spending on highway construction as required by relevant regulations, and the remaining 18.415 billion yuan was used to replenish the central budget stabilization fund for future budgetary purposes.

【1】 【2】 【3】 【4】 【5】 【6】 【7】 【8】 【9】 【10】
【11】 【12】 【13】 【14】 【15】 【16】 【17】 【18】 【19】 【20】
【21】 【22】

Email|Print|Comments(Editor:ZhangQian、Yao Chun)

Related Reading

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Afghan National Army commandos in exercise

  2. Lanzhou MAC conducts combat drills

  3. Unforgettable moments in March

  4. Airline wants capable men for security

  5. Seeking a dream wedding

  6. China's weekly story (2013.3.9-3.15)

  7. Zhang listed among 50 most beautiful celebs

  8. Everything but Prince Charming

  9. House prices rise faster in more cities

  10. Stocks fall to their lowest for 3 months

Most Popular

Opinions

  1. Migration part of global development
  2. CCTV in hot water after corporate exposé backfires
  3. Cultural parks no substitute for talent
  4. Planning vital to diplomacy
  5. Loopholes for rich make estate tax meaningless
  6. How to start transformation and upgrading?
  7. Nation facing energy security threat: experts
  8. Plenty of hard work still to be done on rail reform
  9. 'Made in China' not equal to 'self-made in China'
  10. Efforts needed to nurture ethnic culture, language

What’s happening in China

Seeking a dream wedding at Beijing Wedding Expo

  1. 4.2-magnitude earthquake hits SW China
  2. Man arrested for killing pregnant wife
  3. 38% of Chinese suffer from sleep disorder
  4. Former official charged of molesting minors
  5. Drug addict shot dead resisting arrest in Huizhou