EMAIL
PRINTChina's fiscal spending jumped in July to 37.1 percent from a year earlier, quickening from 17.7 percent in June, official data showed on Friday, the latest evidence that the government is stepping up efforts to combat an economic slowdown.
The world's second-largest economy expanded at the slowest pace in more than three years in the second quarter and the latest data pointed to weaker factory output and retail sales, fanning market expectations of fresh policy easing from Beijing.
Fiscal expenditure of 952.8 billion yuan ($149.83 billion) in July consisted of 167 billion yuan by central government and 785.8 billion yuan by local governments, the Ministry of Finance said in a statement on its website, www.mof.gov.cn
Read Full Article HERE
