Shanxi, Xinjiang and Heilongjiang Saw Budget Revenues Drop Last Year
Yicai Global
/SOURCE : Yicai
Shanxi, Xinjiang and Heilongjiang Saw Budget Revenues Drop Last Year

(Yicai Global) Feb. 13 -- The provinces of Shanxi and Heilongjiang and autonomous region of Xinjiang saw budget revenues fall last year, according to research on the budgets of 31 administrative regions in China, not including Hong Kong, Macao or Taiwan.

Budget reports from the three show general public budget revenue in Shanxi dropped 5.2 percent to CNY156 billion (USD23 billion) from a year earlier. In Xinjiang, revenue fell 2.4 percent to CNY130 billion, and in Heilongjiang it fell 1.1 percent to CNY115 billion.

The revenue declines in all three regions are closely related to gloomy local economies. Tax and fee reduction policies also affected income and the energy industry largely impacts all three provinces. China's general public budget revenue grew 4.2 percent on the year, according to data released by the finance ministry.

Governments of the provinces believe that financial revenue growth will turn positive this year.

Follow Yicai Global on Facebook @yicaiglobal and Twitter @yicaichina.

Follow Yicai Global on