East China’s Jiangsu province reported 564.7 billion yuan in general budget revenue from January to June, an increase of 19.1% over the previous year, the provincial department of finance said recently.
From January to June, Jiangsu reported tax revenue of 463.1 billion yuan, an increase of 19.8%, and an average increase of 5.9% in two years.
Tax revenue growth in the first six months was about 1-3 percentage points faster than general budget revenue, which strongly stimulated fiscal revenue growth.
In the context of continuous tax and fee reduction, value-added tax, corporate income tax and personal income tax, which are closely related to enterprise production and operation and residents' income, have maintained growth of more than 20%, reflecting the steady improvement of economic operation quality and efficiency.
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While fiscal revenues have maintained relatively high growth, fiscal expenditures continue to adhere to the principles of strict management and control and key points.
From January to June, the province's general budget expenditures totaled 707 billion yuan, an increase of 7.5%. Livelihood expenditure increased by 8.1%, 0.6 percentage points higher than the average increase in expenditure. Expenditures in education, science and technology, social security, employment, and health have all maintained relatively high growth.
