The results of official data released by China’s Ministry of Finance on Friday revealed that China’s fiscal revenue expanded by 14.9% year-on-year during the first five months of 2023.
Government data revealed revenue during the first five months of this year 2023 nearly 9.97 trillion yuan.
The central Government raised about RMB4.59 trillion in fiscal revenues, up 13.1 per cent year-on-year, while local governments raised about RMB5.38 trillion, up 16.5 per cent from a year ago.
Financial expenditures increased by 5.8 per cent year-on-year to 10.48 trillion yuan.
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