China fiscal revenues rose faster in September, boosted by a rebound in local government revenue amid a warmer housing market, the Ministry of Finance said yesterday.
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A total of 825.8 billion yuan (US$172 billion) in fiscal revenue was collected in September, up 11.9 percent annually, the ministry said in a statement. The pace was faster than August's 4.2 percent.
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The local governments saw revenue surge an annual 26.8 percent to 459.4 billion yuan as an increase in property transactions in past months lifted their tax revenue, the ministry said.Â
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On the other hand, the central government's income fell 2.4 percent to 366.4 billion yuan, a second straight monthly drop, due to weaker corporate profit and slower rise in imports and consumer prices, the ministry said.
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Corporate income tax fell 11.1 percent to 46.6 billion yuan due to a decline in industrial profits, while individual income tax shed 5.7 percent to 42.5 billion yuan, the ministry said.
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In the first eight months, China's fiscal revenues rose 10.9 percent annually to 9.06 trillion yuan, it said.Â
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The growth rate shed 18.6 percentage points from the same period in 2011.