China’s fiscal revenue down 9.9% in first two months

China’s fiscal revenue went down 9.9 per cent year on year to 3.52 trillion yuan (about 496.2 billion U.S. dollars) in the first two months of 2020, according to an official data.

The data released by the Ministry of Finance (MOF) stated that the central government collected 1.72 trillion yuan in fiscal revenue, down 11.2 per cent year on year.

It said that the local governments saw fiscal revenue dip 8.6 per cent to about 1.8 trillion yuan between January and February.

The MOF data further showed that China’s fiscal spending inched down 2.9 per cent year on year to around 3.24 trillion yuan during the period. (Xinhua/NAN)