China’s fiscal revenue growth accelerated in September as the country’s economic recovery gained momentum. According to data from the Ministry of Finance, China’s total fiscal revenue in September was 2.12 trillion yuan ($318.2 billion), up 14.7 percent year-on-year. This is an increase from the 8.8 percent year-on-year growth rate recorded in August. Fiscal revenue from taxes on companies and individuals rose 13.1 percent and 15.5 percent year-on-year, respectively.
The strong revenue growth in September was mainly due to an improving economy, with the growth of industrial output and retail sales having accelerated in the month. The government’s proactive fiscal policies have also contributed to the revenue growth.