China’s finance ministry official Liu Jinyun revealed on Friday that the country’s fiscal revenues grew by 3.2% in June from a year earlier. Last month there was a 10% fall noted, meaning the country is slowly coming back to before-pandemic levels of growth.
In the first half, fiscal revenues declined 10.8% from a year earlier to 9.6176 trillion yuan, while fiscal spending went down by 5.8% to 11.6411 trillion yuan. Tax revenues decreased by 11.3% in the first half, while non-tax revenues slipped 8%, the ministry said.
Liu added that China issued 720 billion yuan ($102.89 billion) in special treasury bonds starting from July 16, accounting for 72% of the planned issuance that could be finished by the end of July.
