BEIJING (Reuters) – China’s fiscal revenue rose 2.9% in the January-May period from a year earlier, after excluding VAT credit rebates, the finance ministry said on Thursday.
Fiscal expenditure jumped 5.9% in the first five months, according to the finance ministry.
China’s cabinet on Monday unveiled steps to improve the allocation of resources among local governments to help ease their growing fiscal strains and debt risks amid slowing economic growth.
(Reporting by Ellen Zhang and Ryan Woo; Editing by Raissa Kasolowsky)
