China's fiscal revenue rose in October, despite slower tax growth and a year-to-date decline.

China's fiscal revenue rose 5.5% in October, according to the Ministry of Finance, despite a 1.8% growth in tax revenue. For the first ten months of the year, fiscal revenue fell 1.3% year-on-year, with the central government collecting 3.9% less and local governments 0.9% more. Total fiscal expenditure increased by 2.7%, with the central government spending up 7.9% and local governments up 1.8%.

November 18, 2024
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