Henan's Financial Revenue Surges in Q1
From January to March, Henan's financial revenue surged 20 percent year-on-year, comparable to the volume in the same period of 2019, which concluded Henan's successful operation in the first quarter of 2021 marking the first year of China's 14th Five-Year Plan, according to the Department of Finance of Henan Province on April 14.
A smart factory in Xuchang, Henan. [Photo by Zhang Xinxia/Henan Daily]
"Henan's financial revenue growth continued to rebound in the first quarter, making a good start." According to the Department of Finance of Henan Province, by the end of March, Henan's financial revenue and general public budget revenue respectively amounted to 178.6 billion yuan and 112.44 billion yuan (a new high since the growth rate turned from negative to positive for the first time in August last year), with each seeing a year-on-year increase of 20 percent.
Affected by the COVID-19 pandemic, the general public budget revenue of Henan in the first quarter of 2020 was low. Driven by accelerated key projects construction and warming market demand, Henan's general public budget revenue in the first quarter saw a year-on-year increase of 20 percent, 36 percentage points, 5.7 percentage points and 6.6 percentage points higher than that of 2020, 2019 and the first two months of this year. Besides, Henan's tax revenue jumped 23.3 percent year-on-year during January-March period, 3.3 percentage points higher than that of the general public budget revenue. Meanwhile, the province’s main tax revenue growth was relatively high, of which domestic value-added tax reported a year-on-year increase of 33.8 percent. In addition, real estate market’s continued recovery also stimulated related tax increases with land value-added tax and deed tax respectively soaring 35.1 percent and 49.7 percent year-on-year.
In the first quarter, Henan's general public budget expenditure stood at 283.54 billion yuan, up 6.3 percent year-on-year. Expenditure in key areas such as science and technology, energy conservation and environment protection was supported, with that in science and technology increasing by 40.5 percent year-on-year.
全省一般公共预算支出情况方面，一季度，全省一般公共预算支出2835.4亿元，同比增长6.3%。科技、节能环保等重点支出保障有力，其中科技支出同比增长40.5%。（中文来源/河南日报 翻译/赵汉青 审校/陈行洁）