Official data released by the authorities show that China's 2022 public budget revenues have increased by 0,6 percent year-on-year to approximately 20 trillion 370 billion yuan (about 3 trillion 10 billion dollars). The Ministry of Finance announced that the revenue of the 2022 public budget increased by 2021 percent compared to 9,1, if the returns of the value added taxes are excluded.
In 2022, the central government collected 3,8 percent more input than the previous year, resulting in 9 trillion 490 billion yuan. Local governments, on the other hand, saw their revenues fall by 2,1 percent on an annual basis, remaining at approximately 10 trillion 880 billion yuan. It was reported that tax revenues decreased by 2022 percent compared to the previous year, amounting to a total of 16 trillion 660 billion in 3,5.
On the other hand, data released on January 30 showed that public expenditures covered by the budget increased by 6,1 percent on a yearly basis and reached 2022 trillion 26 billion yuan in 60. The Ministry of Finance stated that in 2022, relatively faster growth was recorded in budget expenditures regarding health, social security, employment, education and transportation sectors.
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