China's general public budget spending rose by 4.6 percent year on year to nearly 9.36 trillion yuan (about 1.30 trillion U.S. dollars) in the first four months, according to data released by the Ministry of Finance on Tuesday.
In breakdown, expenditures on social security and employment amounted to around 1.6852 trillion yuan, up 8.5 percent year on year, while spending on education reached 1.4481 trillion yuan, an increase of 7.4 percent.
Health expenditures totaled 746.2 billion yuan, up 3.9 percent from a year ago, while spending on science and technology came to 295.3 billion yuan, showing a stable increase of 3.9 percent.
China's general public budget revenue dipped 0.4 percent year on year to 8.06 trillion yuan in the January-April period.
In April alone, fiscal revenue collected by the central government rose 1.6 percent, the first growth registered this year, the ministry added.
From January to April, tax revenue from the manufacturing of rail, shipbuilding and aerospace equipment increased by 33.2 percent, while revenue from the manufacturing of computers, communication equipment, and other electronic devices rose by 6.8 percent.
The culture, sports, and entertainment industry saw an 8.6 percent increase in tax revenue, driven by the expansion of China's trade-in policy across various sectors, which has boosted demand in these areas.
In addition, the tax revenue from information transmission, software, and information technology services rose by 12.2 percent in the period.
China's general public budget spending up 4.6 pct in first four months
China's smart consumer device manufacturing sector has seen rapid growth this year, fueled by a government-backed trade-in program and the expansion of diversified consumption scenarios.
From January to May, the country's electronic information manufacturing industry maintained strong momentum, with total revenue of enterprises above the designated size reaching 6.49 trillion yuan (some 900 billion U.S. dollars), up 9.4 percent year on year.
Production of electronic consumer goods recorded steady increases. Over 140 million computers were produced during the period, up 8 percent from a year earlier, while 14.04 million television units rolled off assembly lines, up 1.7 percent year on year.
"Consumption scenarios are becoming more diversified. On the demand side, new smart products are quickly entering the market, opening up emerging markets in home services, health management, and beyond. On the supply side, the industry is clearly moving toward transformation and upgrading, with new growth drivers accelerating," said Zuo Kairui, director of the Industry Development Department of the Institute of Policy and Economics at the China Academy of Information and Communications Technology.
Looking ahead to the second half of the year, China plans to go on promoting its "AI plus consumer goods" initiative, encouraging the development and application of new technologies such as smart wearables, ultra-high-definition video, brain-computer interfaces, and robotics.
Meanwhile, authorities will continue to foster high-growth consumer sectors and guide the smart device industry toward greener, more service-oriented development.
China's smart consumer device industry sees rapid growth amid policy boost
