Business
17:56, 11-Aug-2017
China sees spending pace slow but revenues rise in July
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China's fiscal spending rose by 5.4 percent in July from a year earlier while revenue increased by 11.1 percent, according to data from the Ministry of Finance released Friday.
July's growth rate dropped sharply from 19.1 percent in June, although revenue growth rose from 8.9 percent.
Chinese government attributed the slowdown in July spending mainly to significant expenditures earlier.
The country’s economy has defied expectations for a slowdown and expanded at a solid pace in the first half supported by construction projects. This comes even though the broad consensus was for growth to cool slightly in the coming quarters, as authorities continue to crack down on financial risks.
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