Ministry of finance says revenue up 13% this year, but real estate sales tax plunged

财政部公布今年首个收入账单 增长率超13%

Fiscal revenues are up 13% for the first two months of 2012. Central government revenue was up 11% and local governments up 15%. Spending increased 25% at the central government level and 35% at the local level.

Sales taxes were up 6%, but real estate sales taxes plunged 22.7%. The decline came on a 21% drop in sales, part of which was a 14% slide in total area sold.

Elsewhere, 财政部：去年地方财政收入5.24万亿 首次超中央 informs us that local government revenue exceeded that of the central government for the first time since 1999.