Anhui's fiscal revenue is expected to reach 2.5 trillion yuan ($383 billion) in the 13th Five-Year Plan period (2016-20), representing an annual average growth rate of 6.9 percent from 2015, local authorities said at a press briefing on Monday.
Fiscal revenue reached 318.3 billion yuan in 2019, bringing the province to the 11th spot in China, up three notches from the end of the 12th Five-Year Plan period (2011-15), according to Luo Jianguo, head of the Anhui Provincial Department of Finance.
Fiscal expenditure is projected to hit 3.3 trillion yuan between 2016 and 2020. In 2019 alone, 61 counties’ fiscal spending stood at 5.4 billion yuan on average, 1.7 billion yuan more than that in 2015.
The province’s tax and fee cuts totaled 283.6 billion yuan from 2016 to 2018, and reached 80.2 billion yuan in 2019. Preferential tax and fee measures helped increase corporate profits and stimulate the vitality of market entities.
More than 80 percent of the province’s fiscal spending were used to improve livelihood, the official said.