China’s Aug Fiscal Revenue Up 4.2 Percent YoY to CNY 786.3 Bn

Source: Ministry of Finance, ChinaScope Financial (Data)

+          According to the data released by the Ministry of Finance (MOF) on September 11, China’s fiscal revenue in August was CNY 786.3 billion, up CNY 31.7 billion, or 4.2 percent year-on-year; central government’s revenue decreased 6.7 percent year-on-year to CNY 376.5 billion, while local governments’ revenue climbed 16.8 percent year-on-year to CNY 409.8 billion.

+          In August, China’s fiscal expenditure was CNY 902 billion, up CNY 94.3 billion, or 11.7 percent year-on-year. In the January-August period, China’s fiscal revenue increased 21.8 percent year-on-year to CNY 7.24 trillion, of which CNY 243 billion were for low-income housing, up 34 percent year-on-year.

In line with the cyclical pattern of China’s fiscal spending, a deficit of CNY 115.7 billion was incurred in August.

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