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 . . .
To continue reading, please subscribe. You will get
- Original and in-depth reporting on China's economy and financial markets
- Details, data and perspectives you don't read elsewhere
- THE WIRE - a Real-Time News platform that delivers everything important about China's economy, companies, stocks, bonds, commodities and the yuan.
- Daily Brief newsletters to get you prepared for every trading day
We highly value independence. We are solely funded by subscriptions from thousands of readers like you.
Already have an account? Sign In