The Ministry of Financial showed on its website on February 16 that the revenues the government had received was 613.16 billion yuan in January, 17.1 percent lower than a year earlier, within which the central government covered 296.48 billion yuan while the local government occupied 316.68 billion yuan, down 28.4 percent and 2.7 percent from a year earlier respectively.

It’s analyzed last month by the ministry that the rapid drop in the revenue mainly resulted from the financial crisis. It hurt the companies and led to lower profits. There was a drop of about Read more…

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