China’s fiscal revenue plunged 32.5% on year in May, down 5.7% if tax rebates excluded

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Chinese government's fiscal revenue plunged by more than 30% in May from a year earlier as the government refunded some taxes to help businesses weather the impacts of Covid-19 restrictions, though the decline narrowed from the previous month.

Fiscal revenue fell 32.5% in May from the a year earlier, compared to the 415 drop in April, and in particular, tax revenue plunged 38.1%, showed calculations based on the data released by . . .

 

 

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