China’s fiscal revenue tumbled over 41% on year in April due to economic slowdown, tax rebates for epidemic-hit firms

China fiscal revenue

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China’s fiscal revenue tumbled more than 41% in April from a year earlier as the government refund some taxes to help businesses weather the impact of Covid-19 restrictions. 

Fiscal revenue reached about 1.23 trillion yuan in April, slumping 41.3% from the same period last year, according to calculations based data released by the Ministry of Finance on Tuesday.

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