Wednesday, January 07, 2009

China's 08 fiscal revenue up19 pct

China's fiscal revenue for 2008 is expected to rise 19 percent to exceed 6 trillion yuan from 5.13 trillion yuan in 2007, said Xie Xuren, Minister of Finance, at a work conference on Monday, according to China Knowledge Website.

In the first six months, the total fiscal revenue soared 33.3 percent, but emerged to slide from then on due to the eased economy, said Xie.

Xie also predicted that the fiscal revenue may drop further in 2009, but government will continue to expand spending this year to improve people's living quality and further optimize the structure of fiscal expenditure.

Minister of Finance also forecasted that China's fiscal revenue in 2009 may grow 8 percent to 6.57 trillion yuan, and the central government revenue may up 10 percent, according to the report from First Financial Daily.

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