2013 Financial Revenue of Hunan

The fiscal capacity of Hunan Province takes new steps. It was learnt from the meeting on financial work convened on January 13 in Changsha that in 2013, the public financial revenue and local financial revenue of the province exceeded 300 billion yuan and 200 billion yuan respectively.

In spite of slowdown of economic growth, policy-supported fee decrease and severe drought and other unfavorable factors in 2013, all tax departments of Hunan took appropriate actions in advance, actively responded and strengthened tax administration, maintaining steady growth in financial revenue. The public financial revenue increased by 36.934 billion yuan to 330.729 billion yuan, increasing by 12.57%. Specifically, the local financial revenue reached 202.361 billion yuan, increasing by 24.145 billion yuan, a growth rate of 13.55%. The fiscal revenue handed to the Central Government totaled 128.368 billion yuan, growing by 11.06%.

The financial expenditure of the province came to 463.55 billion yuan, rising 51.65 billion yuan or 12.54%. The 79 counties administrated by province fiscal system realized revenue of 84.284 billion yuan, a year-on-year growth of 14.85% and 2.28 percentage points higher than the provincial average. The new system drove the financial growth to a great extent.

Translator: Zhang Minsi

Source: Hunan Official Web Portal