Author: Chen Yizhen
At the same time that Zibo barbecue in Shandong Province became popular on the Internet, local fiscal revenue is also improving.
According to data from the Zibo Municipal Bureau of Finance, the local general public budget revenue in the first quarter was about 111.4 billion yuan, an increase of about 3% year-on-year, which ranked third in Shandong Province and seven places higher than the previous month. From the monthly data, local income fell by double digits in January, and the growth rate of income in February turned from negative to positive and increased slightly, while the growth rate of income in March was as high as 7%. This seems to be similar to the popularity of Zibo barbecue in March.
However, a financial source in Shandong told First Finance and Economics that the contribution of service industries such as barbecue to local fiscal revenue is relatively low, so it does not have much to do with the growth of local fiscal revenue in the first quarter. However, this is good for the growth of the local economy.
Since the Zibo barbecue became popular in March, the number of local tourists has surged. Data show that in March alone, Zibo received more than 3.3 million foreign tourists, an increase of 480% year-on-year, and tourism revenue increased by 134%. Zibo ranked among the top 60 high-speed rail destinations during the May Day period.
Since enterprises declared taxes generated by production and business activities in the previous month, the increase in local tax revenue driven by Zibo barbecue since March will be reflected in April and beyond.
Another local financial source in Shandong told First Finance and Economics that after the Zibo barbecue fire, the number of tourists soared, which will effectively drive the rapid growth of the local "food, accommodation, travel, shopping and entertainment" industry, which will not only boost the local GDP, but also increase local fiscal revenue.
Among the 16 prefectures and cities in Shandong Province, Zibo, a major manufacturing city, ranks 7th in the province in terms of total economic volume (about 2022.4403 billion yuan in <>), and the scale of fiscal revenue also ranks seventh, after Qingdao, Jinan, Weifang, Yantai, Jining and Linyi.
Affected by the impact of the epidemic, tax cuts and fee reductions, similar to other places, Zibo's fiscal revenue has also been affected to a certain extent in recent years. According to data from the Zibo Municipal Bureau of Finance, the city's general public budget revenue in 2022 will complete 375.9 billion yuan, a year-on-year increase of 1.88%, and the comparable caliber after deducting the factor of tax rebates will increase by 6.15% year-on-year.
In the first quarter of this year, Zibo's general public budget revenue exceeded 73 billion yuan, but the most core tax revenue reached 4.4 billion yuan, down 5.66% year-on-year. The proportion of tax revenue is <>%, and the quality of fiscal revenue still needs to be improved.
According to data from the Zibo Municipal Bureau of Finance, in the first quarter, the income of the three main taxes of value-added tax, enterprise income tax and individual income tax, which are closely related to economic operation, enterprise efficiency and personal income, reached 3.48 billion yuan, down 63.1%, and the decline was 31 percentage points narrower than that in February. Judging from the situation of the month, in March, the revenue of the three main taxes reached 2.13 billion yuan, an increase of 3%.
According to the analysis of Zibo Municipal Bureau of Finance, the strong growth of the main tax, although there is a reason for the low base in the same period last year, but also reflects the gradual recovery of enterprise operating conditions and the gradual recovery of the tax base, reflecting the strong resilience of the city's economic entities.
Regarding the financial and economic situation of Zibo City this year, the Zibo budget report predicts that it will be further difficult to balance fiscal revenue and expenditure at all levels. Because factors such as the slowdown in external demand, the difficulty of recovery of the real estate market in the short term, and the uncertainty of commodity prices will affect the growth of local fiscal revenue, rigid expenditures such as strengthening the bottom line of the "three guarantees" at the grassroots level and debt repayment will continue unabated.
According to Zibo's budget report this year, Zibo is expected to have a general public budget revenue of about 2023.393 billion yuan in 5, a year-on-year increase of 2023%. In 271, the budget revenue of the city's government fund is expected to be about 1.<> billion yuan, a year-on-year increase of about <>%.