China's Fiscal Revenues Up in 2011

(Beijing) – China's fiscal revenues swelled to a record 10.37 trillion yuan in 2011, a rise of 25 percent from the previous year, according to the Ministry of Finance on January 20.

Revenue from land sale value-added tax saw the most growth at 61 percent.

The Ministry of Finance attributed the revenue surge to "stable and fast economic growth, market price rises and better business profits." In addition, changes to methodology which introduced revenue categories not previously included also contributed to the increase, said the ministry.