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China's 2009 revenue to cross $1 trillion

China's fiscal revenue for the year 2009 was estimated at 6.85 trillion yuan, an increase of 11.7 per cent over the previous year, Finance Minister Xie Xuren said in Beijing Sunday.

business Updated: Jan 10, 2010 22:48 IST

China's fiscal revenue for the year 2009 was estimated at 6.85 trillion yuan (just over $1 trillion), an increase of 11.7 per cent over the previous year, Finance Minister Xie Xuren said in Beijing Sunday.

China rolled out a massive investment plan worth 4 trillion yuan in November 2008 to cope with the international financial crisis, Xinhua reported.

Xie said the central government would fulfill the target of adding 1.18 trillion yuan for public investment in the time period between the fourth quarter of 2008 and 2010.

It is estimated that in 2009, the central government allocated about 924.3 billion yuan for public spending, up 503.8 billion yuan from the 2008 budget, according to the minister.