February 10, 2020 / 9:03 AM / 2 months ago

China 2019 fiscal spending up 8.1 yr/yr - finance ministry

BEIJING, Feb 10 (Reuters) - China’s fiscal spending climbed 8.1% in 2019 from the previous year, while fiscal revenues rose 3.8%, the finance ministry said on Monday.

The country’s tax revenues rose an annual 1.0% last year, while non-tax revenues jumped 20.2%, the ministry said in a statement.

Tax and fee cuts exceeded 2.3 trillion yuan ($329.5 billion) in 2019, the ministry said, adding that it will continue to implement tax and fee reductions this year.

$1 = 6.9808 Chinese yuan Reporting by Kevin Yao; Editing by Jacqueline Wong

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