(Yicai) Dec. 17 -- China's fiscal income rose at the fastest pace of this year in November, mainly because the latest incremental policy package promoted economic recovery.

General public budget revenue soared 11 percent to CNY1.4 trillion (USD192.2 billion) last month from a year earlier, compared to 5.5 percent in October, according to data released by the Ministry of Finance yesterday.

Tax collection rose 5 percent to CNY1.1 trillion. Among that, the value-added tax inched up 1.4 percent to CNY461.8 billion (USD63.4 billion), the corporate income tax surged 37 percent to CNY111 billion, and stamp duties on securities transactions skyrocketed 173 percent to CNY22.1 billion (USD3 billion), MOF data also showed.

Tax revenue grew at a faster pace than in October last month, mainly because of higher stamp duties, Luo Zhiheng, chief economist at Yuekai Securities, told Yicai.

Non-tax revenue jumped 40 percent to CNY288.9 billion in the period, according to the MOF. The main reason for the surge was the Chinese government's revitalization of existing assets, which increased the profits of state-owned enterprises, Luo noted.

In the first 11 months of the year, China's fiscal income fell 0.6 percent to CNY19.9 trillion (USD2.73 trillion) from the same period last year, according to MOF data. Meanwhile, fiscal expenditure rose 2.8 percent to CNY24.5 trillion in the period.

China has introduced several policy measures to boost the property and capital markets since the end of September, Fu Linghui, spokesman for the National Bureau of Statistics, said at a press conference yesterday. The sales area and volume of new houses increased, and the stock market's turnover more than doubled in November from a year earlier, he added.

If the property and stock markets continue to recover, tax revenue will keep growing, the central and local governments will continue to accelerate the vitality of assets, and SOEs will keep widening their profits, which may result in an overall increase in fiscal revenue throughout the year, Luo noted.

Editors: Dou Shicong, Futura Costaglione