In the first five months this year, Xiamen’s fiscal revenue totaled 57.68 billion yuan, climbing 14.3 percent year on year,which includes 35.02 billion yuan at local level, up 17.4 percent compared with last year, the Xiamen Municipal Bureau of Finance(XMBF) said Monday.
The tax revenue totaled 16.21 billion yuan,dropping 3.7 percent from a year ago at 630 million yuan.The XMBF believed that the reduction was the result of sustained tax breaks in the whole economy of the city.
From January to May, the city’s fiscal expenditure reached 30.4 billion yuan, a year-on-year increase of 22.8 percent. It is worth noting that the spending on people’s livelihood grows steadily. The expenditure on education,social security and employment, public security, health care and family planning, and urban and rural community accounted for 5.12 billion yuan,2.05 billion yuan,1.96 billion yuan, 2.1 billion yuan, and 6.87billion yuan respectively, representing a year-on-year rise of 26.4 percent, 39.7 percent, 32.2 percent, 1 percent, and 9 percent respectively.