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2015-11-13 — bloomberg.com
Fiscal spending jumped 36.1 percent from a year earlier to 1.35 trillion yuan ($210 billion), while fiscal revenue rose 8.7 percent to 1.44 trillion yuan, the Finance Ministry said Thursday. In the first ten months of the year, spending advanced 18.1 percent and revenue increased 7.7 percent.
China is turning to increased fiscal outlays as monetary easing, a relaxation on local government financing, and an expansion of policy banks' capacity to lend, struggle to stabilize growth in the nation's waning economic engines. Meantime, government revenue has been strained as companies face overcapacity, factory-gate deflation and the slowest annual economic growth in a quarter century. See also China's Troubled Credit Swells to Sweden-Sized $628 Billion. source article | permalink | discuss | subscribe by: | RSS | email Comments: Be the first to add a comment add a comment | go to forum thread Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately. |