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China's Jan-Sept fiscal revenue up 5.1%, spending up 1%; land sale revenue down 27.9%
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China's Ministry of Finance reported that the country's fiscal revenue growth for January to September slowed to 5.1% year-on-year, while fiscal expenditure growth eased to 1%. The ministry also said revenue from land sales fell 27.9% over the same period. The figures indicate a continued deceleration in government income as the property market downturn weighs on local finances. The data, released by the finance ministry, cover the first nine months of the year and reflect the fiscal pressures facing Chinese authorities amid weaker economic momentum.
Source report
China's fiscal revenue and expenditure both saw slower year-on-year growth in the first nine months of the year, according to the Ministry of Finance.
Key Figures
- Fiscal revenue: up 5.1% year-on-year
- Fiscal expenditure: up 1% year-on-year
- Land sale revenue: down 27.9%
Source
rtrsNeutral / independent
Part of this Story
China's Land Use Rights Revenue Falls 27.9% as Fiscal Growth Slows to 5.1%