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Boom Time in China

China’s fiscal revenue surged 25.5 percent year on year in the first four months of 2021, official data showed Friday.

According to data released by the Ministry of Finance, the country’s fiscal revenue topped 7.8 trillion yuan (about 1.21 trillion U.S. dollars) during the period.

Tax revenue came in at nearly 6.75 trillion yuan in the first four months, up 27.1 percent year on year.

Revenue from value-added tax, the largest source of fiscal revenue in the country, jumped 24.7 percent from a year earlier, while stamp tax revenue saw an increase of 49.6 percent.

A breakdown showed the central government and local governments collected 3.67 trillion yuan and 4.14 trillion yuan in fiscal revenue, respectively, with a year-on-year rise of 28.5 percent and 23 percent.

Friday’s data also showed that China’s fiscal spending went up 3.8 percent year on year to 7.64 trillion yuan in the January-April period.

Fiscal spending for education rose 12.4 percent, while that for social security and employment went up 6.3 percent, and health and medical care 5.8 percent, according to the ministry.

China’s securities market attracted more than 1.69 million new investors in April, industrial data showed.

The figure marked an increase of 3.11 percent from the same period last year, according to the China Securities Depository and Clearing Corporation Limited.

Individuals accounted for the majority of new investors, reaching over 1.688 million, while new institutional investors stood at 3,200.

By the end of April, the number of investors in China’s securities market exceeded 185.6 million, the data showed.

S. Jack Heffernan Ph.Dhttps://www.knightsbridgelaw.com
S. Jack Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.

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