Dahua's fiscal revenue reaches 128 million yuan in first quarter

The Dahua Yao autonomous county in Hechi, Guangxi, collected 128.8 million yuan ($20.78 million) of fiscal revenue in the first quarter of the year, amounting to 27 percent of the annual target and 45 percent more than the same period last year.

Tax revenues accounted for 110.65 million yuan, a growth of 39.5 percent over the first three months in 2014. The fast growth was attributed to high water yields upstream of the Hongshui River. Revenues from hydroelectricity became the main source of fiscal revenue.

Local nontax revenue stood at a total of 18.16 million yuan, 26.2 percent of the annual target and a large increase of 92 percent over the same period last year. Some funded income such as handicapped security, water conservation funds and afforestation funds were included in the general budget revenue this year, which increased the proportion of nontax revenue.

Moreover, the whole county’s general budget expenditure reached 502.72 million yuan in the first quarter, 31 percent of the annual budget and 18.3 percent of the figure in 2014.

Edited by Andrew Ancheta