Fiscal revenue up 25.9-pct in SW China municipality

Southwest China's Chongqing Municipality registered 22.14 billion yuan (2.73 billion US dollars) of fiscal revenue in the first eight months of this year, up 25.9 percent year-on-year, the local statistical bureau said.

It included 1.85 billion yuan (228 million US dollars) of value-added tax, 4.75 billion yuan (585.7 million US dollars) of business tax, 1 billion yuan (123 million US dollars) of corporate income tax, 750 million yuan (92.5 million US dollars) of personal income tax and 320 million yuan (39.5 million US dollars) of property tax.

Total expenditure in local budgets in the January-August period came to 28.18 billion yuan (3.5 billion US dollars), up 23.6 percent over the same period of 2004.

Local expenditures on infrastructure construction, corporate reform, education, social security and urban maintenance stood at 2.46 billion yuan (303 million US dollars), 410 million yuan (50.55 million US dollars), 3.43 billion yuan (423 million US dollars), 1.79 billion yuan (220.7 million US dollars) and 2.04 billion yuan (251.5 million US dollars) respectively.

The outstanding Renminbi deposits at local financial institutions stood at 443.26 billion yuan (54.7 billion US dollars) at the end of August, up 16.8 percent over the same period of last year.

The figures included 123 billion yuan (15 billion US dollars) of corporate savings and 243.13 billion yuan (30 billion US dollars) of saving deposits from urban and rural residents, down 0.4 percent and up 15.7 percent respectively over the 2004 figures.

At the end of August, the total balance of Renminbi loans of financial institutions in Chongqing was 354.3 billion yuan (43.7 billion US dollars), up 15.6 percent year-on-year.

Source: Xinhua