Chinese economy has witnessed an upturning point so far this year and the budget execution of the country is performing well, said spokesman Wang Jun from the Ministry of Finance.
Wang made the remarks at the press conference sponsored by the State Council Information in Beijing Tuesday morning.
China has achieved 956.1 billion yuan in revenue and 945.3 billion yuan in budget expenditure, 21 and 22 percent up respectively over the same period last year, said Wang.
In the first three quarters this year, the government's revenue from value-added tax, tariff, stamp tax on securities trading and enterprises' income tax, and individual income tax increased by 22.4 percent, 32 percent, 81.6 percent, 31 percent, and 60.3 percent respectively, according to the spokesman.
In addition, China has adjusted the financial expenditure structure and strengthened the budget supervision to guarantee the smooth construction and development of key items including science, culture, education, and health. There has also been a great increase in expenditures in these undertakings.
According to the strong economic momentum and budget execution, the spokesman predicted that, in the last quarter of this year, the fiscal deficit of China will be controlled within the expected budget set by the country.
(CIIC 10/17/2000)
