Hohhot optimizes its financial structure



Zhao Yingjie presents a report on the city’s financial revenue and expenditure at a briefing on Jan 20 in Hohhot, Inner Mongolia autonomous region. [Photo/Xinhua]

Hohhot successfully accomplished all necessary fiscal tasks in 2016, according to Zhao Yingjie, deputy director of the Hohhot finance bureau.

Zhao presented a report on the city’s financial revenue and expenditure at a briefing held on Jan 20.

In 2016, public revenue reached 26.97 billion yuan ($390 million), an increase of 9 percent year on year. Revenues from the State tax department hit 5.4 billion yuan while those from the local taxation bureau reached 14.2 billion yuan.

Public expenditure reached 42.1 billion yuan, an increase of 16.45 percent compared with the previous year.

The growth rate of public revenue was 6.4 points higher than that of the Inner Mongolia autonomous region. Total revenue and the growth rate ranked the third in the Inner Mongolia autonomous region. 

The Hohhot government has further optimized the revenue structure, with non-tax revenue attaining to 29.8 percent, nearly 3.2 points lower than that of Inner Mongolia.

"The stable growth of the fiscal revenue has provided a strong bolster for the development of all industries in the city," Zhao said.

In terms of expenditures, in 2016, livelihood expenditure reached 29.4 billion yuan, accounting for 70 percent of the total. The government allocated more money for the development of agriculture, education, medical care, media and road construction.

Meanwhile, the Hohhot government also spent more than 60 billion yuan on managing polluted rivers, construction of indemnificatory apartments and renovation of old buildings.

About 7 billion yuan was allocated to the building of new types of villages and improving people's living environments.