Fiscal & tax revenue 2018

The general public budget revenue reached 18.34 trillion yuan($2.77 trillion) in 2018, up by 6.2 percent, of which tax revenue amounted to 15.64 trillion yuan, an increase of 1.20 trillion yuan, up by 8.3 percent.

Expenditures in the country's general public budget went up by 8.7 percent, standing at 22.0906 trillion yuan.

The value of local government bonds issued to replace outstanding debt in 2018 reached 1.31 trillion yuan, with an average interest rate of 3.89 percent. From 2015 to 2018, the bonds issued to replace outstanding debts totaled 12.2 trillion yuan, fulfilling the replacement goal set for existing government debt. Through replacement, the average interest rate of local government debt at the end of 2018 was 6.5 percentage points lower than that at the end of 2014, saving approximately 1.7 trillion yuan in interest payment.