China's fiscal revenues rise 3.1 %

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Beijing, Aug. 17 (BNA): China's fiscal revenue increased 3.1 percent year on year to over 12.56 trillion yuan (about 1.79 trillion U.S. dollars) in the first seven months of 2019, state-run Xinhua News Agency (Xinhua) reported.

The country's central government collected more than 6.04 trillion yuan during the period, up 3.3 percent year on year, while local governments saw fiscal revenue up 3 percent to about 6.52 trillion yuan, Xinhua said, citing data from China’s Ministry of Finance.

China's fiscal spending expanded 9.9 percent year on year to around 13.8 trillion yuan during the January-July period, the Chinese Ministry of Finance’s data also showed.