China’s fiscal revenue rises faster to US$255b in July

Source: Xinhua | 2018-08-14

China’s fiscal revenue rose 6.1 percent year on year to 1.75 trillion yuan (US$255 billion) in July, official data showed yesterday.

The growth quickened from the 3.5-percent gain in June, according to the Ministry of Finance website. The central government collected 860.7 billion yuan in fiscal revenue last month, up 1.2 percent year on year, while local governments saw fiscal revenue expand 11.4 percent to 885.4 billion yuan.

In the first seven months of the year, fiscal revenue rose 10 percent year on year to 12 trillion yuan, the data showed. Fiscal spending during the period rose 7.3 percent to 12.6 trillion yuan, taking up 59.8 percent of the planned budget for the year.