(Yicai) Nov. 19 -- China's fiscal income rose 5.5 percent last month after the economic stimulus package introduced since September boosted confidence and activity, according to official figures. Tax revenue gained for the first time this year.

Tax collection rose 1.8 percent in October from a year ago, after the decline in value-added tax narrowed, the personal income tax take climbed, and stamp duty on securities transactions surged, finance ministry data showed yesterday.

But in the first 10 months of the year, general public budget revenue fell 1.3 percent to CNY18.5 trillion (USD2.56 trillion), slowing from a 2.2 percent drop in the first nine months. Tax revenue sank 4.5 percent to CNY15.1 trillion, while non-tax revenue jumped 15.3 percent to CNY3.4 trillion in the 10 months ended Oct. 31.

The central and local governments had about CNY8.25 trillion (USD1.15 trillion) and CNY10.25 trillion of fiscal income in the period, down 3.9 percent and up 0.9 percent, respectively.

Between January and October, fiscal expenditure also rose, climbing 2.7 percent, versus 2 percent growth in the first nine months.

China has the policy tools and resources to ensure the balance between fiscal revenue and expenditure, Finance Minister Lan Fo'an said at a recent press conference.

Editor: Futura Costaglione