China’s fiscal revenue growth entered negative territory for the first time this year with a 3.1-percent year-on-year decline in October, official data showed.
The country’s fiscal revenue stood at 1.57 trillion Yuan (about 226 billion US dollars) last month, according to the Ministry of Finance (MOF).
The central government collected 768.4 billion yuan in fiscal revenue last month, down 7.1 percent year on year, while local governments saw fiscal revenue rise 1 percent to 804.3 billion yuan.
Tuesday’s data also showed China’s fiscal spending expanded 8.2 percent year on year to 1.2 trillion yuan in October.
Fiscal spending in the January-October period rose 7.6 percent to 17.5 trillion yuan, accounting for 83.6 percent of the planned budget for the year.
Feb 22, 2019 0
The 2018 Boao Forum for Asia (BFA) annual conference is scheduled for April 8 to 11 in Boao, Hainan Province. The forum will be themed "An Open and Innovative Asia for a World of Greater Prosperity."
— The Daily Mail - People's Daily