Beijing's general public budget revenue reached 173.5 billion yuan ($25.26 billion) in the first quarter of this year, registering an increase of 2.7% year-on-year, according to the latest data released by the Beijing Municipal Bureau of Finance on Thursday.

The local tax revenue of the capital city saw a year-on-year increase of 1.3% to 143.3 billion yuan from January to March this year, accounting for 82.6% of the total fiscal revenue.

Thanks to the speedy recovery of business activities, the city's value added tax revenue reached 52.36 billion yuan, a year-on-year increase of 7.1%. Corporate income tax and individual income tax reached 42 billion yuan and 21.8 billion yuan, respectively, from January to March this year.

The fiscal expenditures grew by 5.7% to approximately 250 billion yuan in the first three months, and maintained rapid growth in sectors closely related to people's livelihoods. 

Meanwhile, the fiscal spending in healthcare totaled about 24.7 billion yuan, up 23.6% year on year. The spending in education rose 4% year on year to over 32 billion yuan.  

As part of its efforts to become a global sci-tech innovation center, Beijing also increased its fiscal spending in high-tech industries to over 25 billion yuan in the first quarter of this year.

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