Business
22:49, 13-Nov-2018
China's fiscal revenue down 3.1% in October
Updated
21:46, 16-Nov-2018
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China's fiscal revenue growth entered negative territory for the first time this year with a 3.1-percent year-on-year decline in October, official data showed on Tuesday.
The country's fiscal revenue stood at 1.57 trillion yuan (about 226 billion US dollars) last month, according to the Ministry of Finance (MOF).
The central government collected 768.4 billion yuan in fiscal revenue last month, down 7.1 percent year on year, while local governments saw fiscal revenue rise one percent to 804.3 billion yuan.
In the first 10 months of the year, fiscal revenue went up 7.4 percent year-on-year to 16.1 trillion yuan, MOF data showed.
Tuesday's data also showed China's fiscal spending expanded 8.2 percent year on year to 1.2 trillion yuan in October.
Fiscal spending in the January-October period rose by 7.6 percent to 17.5 trillion yuan, accounting for 83.6 percent of the planned budget for the year.
Source(s): Xinhua News Agency