China's fiscal revenue up 3.1 pct

CNC
Added On August 18, 2019

Official data showed that in the first seven months of this year, China's fiscal revenue increased 3.1 percent year on year to about 1.79 trillion U.S. dollars.
 
According to the Ministry of Finance, the central government collected more than 6.04 trillion yuan (or about 0.86 trillion U.S. dollars) during the period, up 3.3 percent year on year.
 
China's fiscal spending expanded 9.9 percent year on year  during the January-July period.
 
Expenditure on transport boasted the fastest growth pace in the period, up 21.1 percent year on year, followed by that on science and technology, and energy conservation and environmental protection.
 
China will maintain a proactive fiscal policy stance in 2019, with a higher deficit-to-GDP ratio to leave policy space to address potential risks.