CHINA'S FISCAL REVENUE DROPS 2.8% IN JANUARY-MAY

China's fiscal revenue fell 2.8% in the first five months of 2024 from a year earlier, accelerating from a 2.7% decline in the January-April period, official data showed on Monday, as weak demand drags on the economic recovery.

Fiscal expenditure rose 3.4% in the first five months, versus a 3.5% gain in the first four months, according to finance ministry data. For May alone, fiscal revenue was down 3.2% year-on-year, compared with a 3.7% slide in April, while fiscal spending grew 2.6% against a 6.1% rise in April.

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