Revenues of the central and local governments of China soared almost 24 percent to reach 2.172 trillion yuan (US$285.83 billion) in the first five months of the year, said Chinese Finance Minister Jin Renqing Wednesday.

 

Central government revenue reached 1.221 trillion yuan, up 298.345 billion yuan year-on-year, while local government revenues reached 951.426 billion yuan, up 210.912 billion yuan, Jin said in his report to the Standing Committee of the National People's Congress this morning.

 

In 2006, China's national financial revenue totaled 3.937 trillion yuan. The national financial expenditures totaled 4.042 trillion yuan, said the minister.

 

Last year, the central government ran a deficit of 274.896 billion yuan with revenues of 2.124 trillion yuan and expenditures of 2.349 trillion yuan, Jin said.

 

(Xinhua News Agency June 27, 2007)