China Financial Daily

Significant narrowing of the revenue decline in the economy has stabilized
Ministry of Finance data released yesterday show that July revenue growth in the country picked up 669.591 billion yuan monthly income, an increase of 10.2 percent, than in June fell by 9.4 percentage points. Industry analysts believe that the increase in revenue in July fell primarily due to decline in non-tax revenue. According to the annual budget deficit of 950 billion yuan, the next five months of fiscal expenditure will exceed revenue of about 1.63 trillion yuan, which means that fiscal policy in the second half of the operation with a larger space, the economy has been further established warmer.

Chinese Academy of Social Sciences Research Center of the Secretary-General Zhang Bin taxation pointed out that revenue growth in July is still by the non-tax income growth driven by economic recovery of the tax revenue is still in a state of negative growth, but the decline has narrowed, with the economy has stabilized the reasons for recovery, but also the base last year downward trend in construction has emerged.

From the situation in recent months, China’s fiscal revenue growth appearing to be picking up in general. 1 to April fell 9.9% rise in May, an increase of 4.8% in June grew 19.6 percent, 10.2 percent growth in July.

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