China's fiscal revenue exceeds 20 trillion yuan in 2021

BEIJING - China's fiscal revenue rose 10.7 percent year-on-year to hit 20.25 trillion yuan ($3.19 trillion) in 2021, Xu Hongcai, vice minister of finance, said Tuesday.

The fiscal revenue in 2021 nearly doubled from the 2012 figure of 11.73 trillion yuan, Xu said at a press conference.

The central government collected about 9.15 trillion yuan in revenue, up 10.5 percent year-on-year, while local governments saw revenue up 10.9 percent to 11.1 trillion yuan.

"The recovery of economic growth and higher producer prices helped drive up fiscal revenues of central and local governments," Xu said.

The country's fiscal spending edged up 0.3 percent year-on-year to 24.63 trillion yuan last year.