Fiscal & tax revenue 2019

The national general public budget revenue reached 19.04 trillion yuan($2.76 trillion) in 2019, up by 3.8 percent over that of the previous year, of which tax revenue amounted to 15.80 trillion yuan, an increase of 158.9 billion yuan, up by 1.0 percent. The national general public budget expenditure reached 23.89 trillion yuan, up by 8.1 percent over that of the previous year.

The central government collected 8.93 trillion yuan in fiscal revenue, up 4.5 percent year-on-year, while local governments saw fiscal revenue expand 3.2 percent to 10.11 trillion yuan in 2019.

China's annual amount of tax and fee cuts in 2019 totaled 2.36 trillion yuan. Tax cuts in the manufacturing sector and related industries accounted for nearly 70 percent of the annual amount of value-added tax reduction, while inclusive tax reduction for small and micro enterprises stood at about 250 billion yuan. The business environment for enterprises was significantly improved.