The epidemic has reduced the tax base. Under the comprehensive effect of the large-scale tax reduction and fee reduction policy in 2019, as well as the tax reduction and tax mitigation measures taken to tide over the difficulties with enterprises, the local fiscal revenue decreased significantly in the first half of the year. However, with the continuous recovery of the economy, the second half of the fiscal revenue is also expected to achieve growth.
Beijing and Shanghai fell by a large margin
Compared with the national average of 7.9%, the eastern provinces of Finance performed better.
In the first half of the year, the local fiscal revenues of Guangdong, Jiangsu and Zhejiang were 646.0 billion yuan, 474.1 billion yuan and 425.3 billion yuan respectively, with growth rates of - 5.8%, - 2.8% and - 2.6% respectively. In the first half of the year, the GDP scale of the three countries was 49234, 46723 and 2908.7 billion yuan respectively, with growth rates of - 2.5%, 0.9% and 0.5% respectively.
The fiscal revenue is equivalent to the economic performance, and the economic and financial volume of Guangdong ranks first. The important reason for the difference in growth rate is that, as the largest foreign trade province, the spread of overseas epidemic has a relatively large impact on its import and export.
In recent years, Zhejiangs financial revenue performance is brilliant. In the past few years, it has gradually surpassed Shandong and its scale has risen to the fourth; in 2019, it has launched a seesaw war with Shanghai, surpassing Shanghai in the first quarter, reversing Shanghai in the first half of the year, and taking the lead again in the first three quarters, with Shanghai leading by 12 billion yuan in the whole year.
In the first half of this year, Zhejiang surpassed Shanghai, with a gap of 32 billion yuan. Under the background of normalization of epidemic prevention and control this year, the Internet digital economy has risen sharply against the trend. The policy level promotes new infrastructure construction, and the digital economy is expected to further develop. Zhejiang, which has many Internet platform enterprises, has a bright future.
Zhejiangs GDP growth turned positive in the first half of the year, thanks to the support of the service industry. The added value of Zhejiangs service industry increased by 2.5% in the first half of the year. Among them, in the first half of the year, the business income of the core industry of digital economy, the service industry, increased by 11.5% year-on-year, ranking first.
The performance of Beijing and Shanghai was relatively weak in the first half of the year. In terms of GDP volume, Shanghai and Beijing rank 11th and 12th in China in 2019. They gather a large number of corporate headquarters, and the headquarters economy brings rich tax revenue. Especially in the years when the real estate market was good, the growth rate of financial revenue in Shanghai and Beijing was once unique.
However, in the first half of this year, Shanghai and Beijing ranked fourth and sixth in terms of fiscal revenue, with a decrease of 12.2% and 11% respectively. In recent years, the growth rate of fiscal revenue of the two municipalities is relatively low, which is related to the regulation of real estate, the adjustment of some key industries and the industrial decentralization.
Fan Ziying, a professor at Shanghai University of Finance and economics, told reporters in the 21st century economic report that Beijing and Shanghai, as municipalities directly under the central government, have relatively single industrial structure compared with Guangdong, Zhejiang and Jiangsu. It relies on the finance and real estate of Shanghai, such as the auto industry. Last year, the growth rate of Shanghais fiscal revenue was also relatively low. At that time, part of the existing funds were also excavated. This years financial revenue data is a more real reflection.
In the first half of the year, most of the provinces with positive growth of local fiscal revenue have realized the positive growth of GDP.
For example, Guangxis GDP in the first half of the year was 1020.6 billion yuan, an increase of 0.8% year-on-year; the general public budget revenue reached 96.2 billion yuan, with a year-on-year growth of 1.3%. Among the general public budget revenue, the tax revenue was 55.287 billion yuan, a year-on-year decrease of 9.4%; the non tax revenue was 40.918 billion yuan, with a year-on-year increase of 20.5%.
(author: Zhou Xiaoxiao)
This article is from Wang Xiaowu, editor in charge of economic report in the 21st century_ NF