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Prudent fiscal policy to continue
Latest Updated by 2005-12-20 09:36:19
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Fiscal revenues to top 3 trillion yuan

China will continue to implement a prudent fiscal policy, Chinese Premier Wen Jiabao said in a written instruction to a national fiscal conference held in Beijing Monday.

 

China's state revenues hit 2.8 trillion yuan (about 356.87 billion US dollars) in the first 11 months, up 18.5 percent year on year. State revenues are expected to reach 3 trillion yuan by the end of 2005, according to official figures.

 

China's governments have focused on economic and social development and made great achievements for the last three years, Wen said adding the work of government will be arduous in 2006.

 

Meanwhile, China plans to remove the agricultural tax and increase its financial injections into rural areas in 2006, including subsidizing major food-producing provinces and regions with an additional one billion yuan, said Jin Renqing, China's finance minister.

 

The agricultural tax has been eliminated in 28 of 31 provinces and governments have injected some 300 billion yuan (37.5 billion U.S. dollars) into the countryside in 2005.

 

Editor: Yan

By: Source: China View website
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