Increase in public budget revenue leads Pearl River Delta
General Public Budget revenue for Zhuhai rose by 25.2 percent to 35.9 billion yuan ($5.6 billion) in the first three quarters of the year, ranking first among nine Pearl River Delta cities with an average two-year growth rate of 17 percent.
The growth is credited to strong business resumption and tax and fee reductions by the local government, recovering enterprise sales, high-performing real estate and financial sectors, taxes paid by upper-income earners, and vitalized state-owned assets, according to the Zhuhai Bureau of Finance.
New riverside park in Lianzhou Town, Doumen District [Photo courtesy WeChat account: zhuhaifabu]
Local corporate income and value-added taxes grew at rates of 14.1 percent and 12 percent, respectively, from January to September. Individual income taxes jumped by 33.8 percent. Regional medium and small-sized tax categories such as land value increment and deed taxes realized growth of 25.3 percent. The city's nontax revenue soared 94 percent year on year to 11.95 billion yuan ($1.85 billion).
Meanwhile, the local General Public Budget expenditure increased by 8 percent year on year to 52.96 billion yuan ($8.21 billion). The government allocated 6.67 billion yuan ($1 billion) to advance key projects for transport, infrastructure, medical treatment, education, and ecological environment treatment.
In addition, 305 million yuan ($47.3 million) funded "the trivial, urgent, and difficult things" concerning the community, and 691 million yuan ($107 million) was spent on epidemic prevention and control.
Of note, a provincial subsidy of 460 million yuan ($71 million) was transferred from Zhuhai to the Guangdong-Macao In-Depth Cooperation Zone in Hengqin when its administrative organizations were inaugurated Sept 17.