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China’s fiscal spending fell in August for first time this year

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China’s fiscal spending declined in August for the first time this year as central and local governments face funding strains amid a large-scale campaign to cut tax and fees, underscoring their challenges in boosting economic growth through fiscal expansion.

Fiscal spending fell 0.2 per cent in August from a year earlier to 1.511 trillion yuan ($210 billion), according to calculations based on data released by the Ministry of Finance on Tuesday, marking the first decline since . . .

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