Guangzhou's public revenue rises by 10.8 percent
2014-January-13 Source:
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The Guangzhou Municipal Finance Bureau released public revenue figures for 2013. For the full year of 2013, the city registered total budgetary public revenue of RMB 114.05 billion, representing an increase of 10.8% year on year and exceeding the target by 4.5%. Expenditures from the city's local-level budgetary public revenue for public livelihoods and social undertakings totaled RMB 46.22 billion, accounting for 76.2% of the local-level expenditures.

The data shows that the city's budgetary public revenue in 2013 rose by 14.9% if the effect of the replacement of business tax with VAD is excluded. The local-level revenue increased 8.7% to RMB 48.47 billion, exceeding the target by 2.3%; it rose 11.4% if the effect of the replacement of business tax with VAD is excluded. Tax revenue totaled RMB 90.47 billion, accounting for 79.3% of the total public revenue. In 2013, Guangzhou abolished or suspended 11 administrative charges and reduced one charge, decreasing the financial burden on enterprises and residents by about RMB 170 million.

Guangzhou leads the nation in releasing information and data on government officials' spending on overseas trips, entertainment and public vehicles. It is the first city in China to release full expenditure data in these regards.

(Translated by Guangzhou Association of Foreign Affairs Translators)

Editor: Olivia
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