CHINA'S fiscal revenues grew 4.2 percent annually to 786.3 billion yuan (US$124 billion) in August.The country's central fiscal revenue dropped 6.7 percent annually to 376.5 billion yuan last month, while that of local governments rose 16.8 percent to 409.8 billion yuan, the ministry said in a statement.During the first eight months, China's fiscal revenues grew by 10.8 percent from a year earlier to 8.23 trillion yuan, the statement said.

The ministry attributed the slower growth to the slowing economy, falling prices and structural tax reductions.China's economy expanded 7.8 percent annually in the first half of 2012, down 1.8 percentage points from a year earlier.The consumer price index, a key gauge of inflation, rose 2 percent year on year in August, accelerating from 1.8 percent in July.

Tax revenues nationwide rose 8.9 percent annually to 7.06 trillion yuan in the first eight months, accounting for 85.78 percent of the nation's total fiscal revenues.Business tax revenues increased 15.2 percent to 108.2 billion yuan last month, as business tax from the financial sector jumped 38.5 percent and that of the property sector rose 21 percent on rising sales.Corporate income taxes surged 47.2 percent annually to 72.9 billion yuan last month, according to the statement.

沪江英语快讯：8月份，财政收入中的税收收入6618亿元，同比增长7.2%。非税收入1245亿元，同比减少129亿元，下降9.4%。其中，中央非税收入同比减少366亿元，下降58.7%，主要是受石油特别收益金缴库办法改变的影响。财政部表示，本月财政收入增幅继续回落，特别是中央财政收入下降较多，主要是受经济增长放缓、价格涨幅回落、企业利润下降、实施结构性减税的影响。