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


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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