BEIJING, China announced on Tuesday financial revenues of CNY 20.25 trillion (USD three trillions) for the fiscal year 2021.
In a press conference, Vice Chinese Financial Minister Xu Hongcai said that Chinese financial revenues has doubled during 2021, compared CNY 11.73 trillion (USD 1.85 trillion) in 2020.
The Chinese Central government gained nearly CNY 9.15 trillion (USD 1.44) financial revenues with an increase by 10.5 percent on an annual basis, while revenues of local governments rose by 10.9 percent, to reach CNY 11.1 trillion (USD 1.75 Trillion), the official added.
He explained that the economic recovery and the increase in producers prices contributed to these gains for both the central and local governments, noting that the country’s financial spending in 2021 rose by 0.3 percent on an annual basis to reach CNY 24.63 trillion (USD 3.89 trillion).
Source: Kuwait News Agency