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China’s fiscal revenue picks up speed in July

China’s fiscal revenue picks up speed in July

BEIJING: China’s fiscal revenue registered faster growth in July, the Ministry of Finance (MOF) said Friday.  Fiscal revenue gained 11.1 percent year on year to 1.65 trillion yuan (nearly $250 billion) last month, up from the 8.9-percent growth in June, according to the MOF. Fiscal expenditure rose 5.4 percent year on year to 1.35 trillion yuan, slowing from the 19.1-percent increase in June. The MOF said the July’s deceleration was attributed to faster fund allocation than in previous months.