Report from our correspondent (reporter Hu Gongwei) revenue over RMB 8 trillion yuan for the first time in China. The Treasury released yesterday, January 2010 to December, the cumulative, the national fiscal revenue was 8.308 trillion yuan, a year-on-year increase of 1.4562 trillion yuan, an increase of 21.3%.
Income tax revenue accounted for 88% of the revenue structure
Among them, the financial income of tax revenue of 7.3202 trillion yuan, up by 23%; The tax revenue of 987.8 billion yuan, an increase of 9.8%. According to this calculation, tax revenue is still the main body of accounting for revenue in China, 88% in 2010.
Specific view, there are several tax above average growth, such as consumption growth of 27.5%. Treasury said, because the reform of taxes and fees for refined petroleum products in 2009 and a consumption tax increase tobacco products, 2010 years ago he said a few months 'income factors, as well as car sales growth spur consumption tax increase sharply.
Second, driven by steady and rapid growth of investment in fixed assets and other factors, related to the industry sales growth, sales growth of 23.8%. In addition, the personal income tax increases by 22.5%, more than the overall growth, Treasury said, this is the residents' income increase and the influence of factors such as strengthening the collection and management.
In addition, in 2010 resulted in substantial imports of goods import link value-added tax, consumption tax, tariff, than the overall growth.
Income factors cause is rising prices
Aimed at the rapid growth of the revenues, the ministry of finance yesterday explains, first, because rapid economic growth and the tax basis for revenue growth, particularly with the tax incidence degree higher economic index increases faster, such as industrial output of last year, the whole society fixed asset investment, total retail sales of social consumer goods, total amount of import and export growth is faster.
Secondly, the Treasury said, rise in the price level also push up growth. 2010 consumer price index and producer price index (PPI, CPI rose 3.3% and 5.5%, respectively, with current relevant revenue growth.
In addition, the annual automotive nokias drive the vehicle purchase tax, consumption tax and other sharp growth.
In addition to economic reasons, the ministry of finance said that in 2009 the national fiscal revenue growth of 11.7%, with a relatively low base, also raised corresponding revenue growth in 2010.
Features continue to grow faster than GDP
Treasury said, look from the year, the national finance income is high after low moves before: in the first half of the growth of 27.6%, 15% growth in the second half. Full-year revenue growth of 35.5% compared with 2008, equivalent to two years, the average annual growth of 16.4%.
Even after discount, fiscal revenue growth, as same as the usual continue more than China's GDP growth. Affected by the financial crisis, both poor growth in 2009 as a minimum, but also widened in 2010.
Bureau of statistics released yesterday, China's GDP growth of 10.3% in 2010, over the same period of fiscal revenue growth is more than twice the GDP. Previously, including academic committee chairman zhang shuguang, Beijing institute of economics, the central committee of the communist party of China party school JiaoWei zhou said, deputy director of the research in our country tax revenue, fiscal revenue growth is too fast, the growth rate should be controlled.
Planning finance will increase local tax rebates
Continue to increase spending on education science and cutting the fiscal deficit
According to last year's budget, set in early 2010 fiscal deficit target is 1.05 trillion yuan, more than 2009 950 billion yuan 100 billion yuan deficit augmentation, refresh the record since the founding of new China annual deficits. But for now, due to the increasing fiscal revenue this year, the actual size of the deficit should be less than budget.
From the point of spending, 1 to 12 month accumulative total, national fiscal expenditure of 8.9575 trillion yuan, a year-on-year increase of 1.3275 trillion yuan, an increase of 17.4%. Simple make ends meet, in 2010, about 2010 yuan fiscal deficits, which accounts for about 1.6% of China's GDP, much lower than the budget deficit in 1.05 trillion, but the size of the deficit further accounting also need to the ministry of finance.
For excess funds, the Treasury said the growth in excess revenue in addition to the statutory requirements to increasing spending on education, science, according to the current financial system to increase tax rebates and transfer payments to local governments and appropriately used to reduce the fiscal deficits thereof, the rest are transferred to the central budget stabilization fund, after approved by the National People's Congress (NPC) annual schedule again after use.