日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

China's fiscal growth may slow down

By Chen Jia | China Daily | Updated: 2018-04-19 10:14
Share
Share - WeChat

Impact of tax reductions might be felt from next month, says official

The Chinese government's fiscal revenue may grow at a slower pace from the second quarter, under pressure from intensive tax cuts, weaker industrial price inflation and external uncertainties, said an official from the Ministry of Finance on Wednesday.

A more ambitious tax and administrative fee reduction plan-more than 1 trillion yuan ($159 billion) in total this year, could moderate fiscal revenue growth in the coming months, and the "effects of tax cuts will emerge from May", Lou Hong, director-general of the Finance Ministry's National Treasury Department, said on Wednesday.

Other factors may include the expected easing of industrial products' factory-gate prices, or the producer price index, and the instability of the global economic environment, according to Lou.

On Tuesday, the ministry released a total fiscal revenue, in terms of budgeted general public income, of 5.05 trillion yuan in the first quarter, up 13.6 percent year-on-year. The growth rate almost doubled from 7.4 percent at the end of last year.

Tax income has contributed 4.43 trillion yuan, or 87.72 percent, to total fiscal revenue, with a growth rate of 17.3 percent, up from 10.7 percent in 2017, according to the ministry.

From January to March, the total fiscal expenditure was 5.0997 trillion yuan, up 10.9 percent year-on-year, compared with 7.7 percent in 2017, according to the official data.

"The government may stimulate economic growth through a proactive fiscal policy in the coming months, especially through strengthening expenditure with tax cuts, as the economic growth pressure has increased since March," said Gao Gu, general manager of the fixed-income department of Changan Securities.

China's GDP was stable in the first quarter but March data points to weakness ahead, led by the eased growth of industrial production and slowed fixed asset investment. The PPI rose 3.1 percent year-on-year in March down from 3.7 percent in February, according to the National Bureau of Statistics.

Some economists expected that may lead to higher fiscal deficit pressure when expenditure growth overwhelms the income slowdown. The government has set the 2018 annual fiscal deficit goal at 2.6 percent, down from last year's 3 percent.

"But that may not be the true story, as fiscal income still expands based on a sound and stable economic growth outlook, while the efficiency of fiscal expenditure may be improved," said Qiao Baoyun, head of the academy of public finance and public policy under the Central University of Finance and Economics.

Besides, the government still has room for bond issuance to support major project investment, added Qiao.

The ministry said that during the first three months, 10 provinces issued local government bonds worth a total of 219.5 billion yuan, of which 76.9 billion was in special bonds, the Chinese version of the municipal bond, which offers local governments a financing route after they were banned from borrowing through local government financing vehicles, an off-budget financing channel.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 99久久免费视频在线观看 | 久操视频网 | 2021国产在线视频 | 成人黄色片网站 | 亚洲最大黄色网址 | 俄罗斯厕所偷窥视频 | 午夜精品在线 | 免费视频一区二区 | 太平公主一级艳史播放高清 | 黄片一级毛片 | 看黄网站在线看 | 久久久久成人精品免费播放动漫 | 激情做a全过程片A | 国产成人综合95精品视频免费 | 国产精品视频网站 | 色综合久久丁香婷婷 | 日韩欧美亚洲综合 | 精品国产日韩一区三区 | 成人精品视频在线观看 | 黄网站免费在线 | 久久综合偷拍 | 欧美精品综合在线 | 亚洲综合图片色婷婷另类小说 | 亚洲3p | 亚洲国产精品热久久 | 人人爱天天做夜夜爽88 | 亚洲一区和二区 | 美国一级特色大黄 | 午夜精品小视频 | 欧美二区三区 | 久操中文在线 | av片在线播放 | 一区二区三区高清视频在线观看 | 欧美三级电影在线观看 | 中文字幕日韩精品在线 | 久久精品99久久 | 性欧美久久 | 91免费在线视频 | 国产乱码精品一区二区三区中文 | 在线观看黄色小视频 | 亚洲国产视频网站 |