China’s fiscal revenue down 2.6 pct in Jan-July

BEIJING, Aug. 26 (Xinhua) — China’s fiscal revenue dipped 2.6 percent year on year in the first seven months of this year, official data showed Monday.
The figure, however, rose 1.2 percent after adjustment by deducting effects from factors such as favorable policies for micro, small and medium enterprises that led to a higher comparative basis last year, and tax reduction measures, according to data from the Ministry of Finance.
The country’s fiscal expenditure expanded 2.5 percent year on year during the January-July period. ■