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Guangxi fiscal revenue hits 214b yuan in first Q3


Updated: 2018-10-24

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Guangxi Zhuang autonomous region has witnessed steady fiscal revenue growth in the first three quarters, with a total fiscal revenue of around 214.31 billion yuan ($30.92 billion), an increase of 9.9 percent over the same period last year.

According to official statistics, in the first three quarters the general public budget revenue was around 126.36 billion yuan, an increase of 6.5 percent over the same period.

The region's general public budget expenditure was about 397.15 billion yuan, equivalent to the total expenditure in 2015, an increase of 11.7 percent over the same period last year.

The high-quality and fast revenue increase gives credit to holistic local financial control policies, including 30 preferential tax and fee policies, which are expected to reduce the taxes and fees of enterprises by more than 17 billion yuan; more investment in major projects and key, characteristic industries; and two billion yuan of incentive funds for counties' economic development.

As a result, in the first three quarters, the region's fiscal revenue growth rate increased by 2.2 percent over the same period last year and the growth rate exceeded nine percent for three consecutive months.

The expenditure on people's livelihoods amounted to 32.15 billion yuan, with a year-on-year growth of 10.9 percent and accounting for 80.9 percent of the general public budget expenditure.

What's more, the fiscal revenue of the first three quarters completed 77.6 percent of the annual budget. The general public budget revenue reached 75.6 percent of the annual budget made at the beginning of the year and the general public budget expenditure realized 77.2 percent of the annual budget, an increase of 8.7 percent over the same period during the previous year.