China's Q1 2024 public budget spending rose 2.9% to 7 trillion yuan ($985B) amidst a 2.3% revenue drop due to tax cuts.
China's public budget spending increased by 2.9% in Q1 2024, reaching nearly 7 trillion yuan ($985 billion). Various sectors, including agriculture, forestry and water conservancy, urban and rural communities, housing guarantees, social security and employment, and education, experienced accelerated fiscal spending growth. This follows a drop in fiscal revenue by 2.3% in the same period due to tax cut policies.
April 22, 2024
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