Ministry of Finance: National General Public Budget Revenue Increased by 5.8% Year-on-Year from January to July; Stamp Duty on Securities Transactions Surged by 99.2%

I. National General Public Budget Revenue and Expenditure

(I) General Public Budget Revenue

From January to July, national general public budget revenue totaled RMB 14,369.6 billion, a year-on-year increase of 5.8%. Of this, national tax revenue was RMB 11,838.1 billion, up 6.7% year-on-year; non-tax revenue was RMB 25,315 billion, up 1.6% year-on-year. Broken down by central and local levels, central general public budget revenue was RMB 63,857 billion, a year-on-year increase of 9.1%; local general public budget revenue at the local level was RMB 79,839 billion, a year-on-year increase of 3.3%.

The breakdown of major tax revenue items is as follows:

1. Domestic value-added tax (VAT): RMB 45,149 billion, a year-on-year increase of 6.1%.

2. Domestic consumption tax: RMB 9,984 billion, a year-on-year decrease of 2.2%.

3. Corporate income tax: RMB 32,769 billion, a year-on-year increase of 7.2%.

4. Individual income tax: RMB 10,662 billion, a year-on-year increase of 14.9%.

5. VAT and consumption tax on imported goods: RMB 11,569 billion, a year-on-year increase of 12.3%. Customs duties: RMB 1,356 billion, a year-on-year increase of 3.1%.

6. Export tax rebates: RMB 14,800 billion, a year-on-year increase of 5.2%.

7. Urban maintenance and construction tax: RMB 3,237 billion, a year-on-year increase of 4.3%.

8. Vehicle purchase tax: RMB 1,337 billion, a year-on-year increase of 13%.

9. Stamp duty: RMB 3,530 billion, a year-on-year increase of 38%. Of this, stamp duty on securities transactions was RMB 1,864 billion, a year-on-year surge of 99.2%.

10. Resource tax: RMB 1,964 billion, a year-on-year increase of 12.4%.

11. Deed tax: RMB 2,303 billion, a year-on-year decrease of 14.5%.

12. Property tax: RMB 3,415 billion, a year-on-year increase of 6.7%.

13. Urban land use tax: RMB 1,710 billion, a year-on-year increase of 3.5%.

14. Land appreciation tax: RMB 2,359 billion, a year-on-year decrease of 15.3%.

15. Farmland occupation tax: RMB 881 billion, a year-on-year decrease of 4%.

16. Environmental protection tax: RMB 218 billion, a year-on-year increase of 14.6%.

17. Other taxes, including vehicle and vessel tax, ship tonnage tax, and tobacco leaf tax, totaled RMB 738 billion, a year-on-year increase of 0.2%.

(II) General Public Budget Expenditure

From January to July, national general public budget expenditure totaled RMB 162,889 billion, a year-on-year increase of 1.3%. Broken down by central and local levels, central general public budget expenditure at the central level was RMB 24,783 billion, a year-on-year increase of 6.2%; local general public budget expenditure was RMB 138,106 billion, a year-on-year increase of 0.5%.

The breakdown of major expenditure items is as follows:

1. Education expenditure: RMB 24,606 billion, a year-on-year increase of 0.7%.

2. Science and technology expenditure: RMB 5,408 billion, a year-on-year increase of 1.5%.

3. Expenditure on culture, tourism, sports, and media: RMB 1,873 billion, a year-on-year decrease of 6.9%.

4. Social security and employment expenditure: RMB 29,548 billion, a year-on-year increase of 7%.

5. Healthcare expenditure: RMB 13,613 billion, a year-on-year increase of 9.8%.

6. Energy conservation and environmental protection expenditure: RMB 2,598 billion, a year-on-year decrease of 11.9%.

7. Urban and rural community expenditure: RMB 10,864 billion, a year-on-year decrease of 2.9%.

8. Agriculture, forestry, and water resources expenditure: RMB 11,489 billion, a year-on-year decrease of 6.8%.

9. Transportation expenditure: RMB 6,182 billion, a year-on-year decrease of 2.5%.

10. Debt interest payment expenditure: RMB 7,966 billion, a year-on-year increase of 5.2%.

II. National Government Fund Budget Revenue and Expenditure

(I) Government Fund Budget Revenue

From January to July, national government fund budget revenue totaled RMB 18,219 billion, a year-on-year decrease of 21.2%. Broken down by central and local levels, central government fund budget revenue was RMB 2,772 billion, a year-on-year increase of 6.8%; local government fund budget revenue at the local level was RMB 15,447 billion, a year-on-year decrease of 24.8%. Of this, revenue from the grant of state-owned land use rights was RMB 11,731 billion, a year-on-year decrease of 30.8%.

(II) Government Fund Budget Expenditure

From January to July, national government fund budget expenditure totaled RMB 45,410 billion, a year-on-year decrease of 16.4%. Broken down by central and local levels, central government fund budget expenditure at the central level was RMB 2,719 billion, a year-on-year decrease of 61.8%; local government fund budget expenditure was RMB 42,691 billion, a year-on-year decrease of 9.5%. Of this, expenditure related to revenue from the grant of state-owned land use rights was RMB 19,474 billion, a year-on-year decrease of 17.4%.

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