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China October fiscal expenditure up 36% y-o-y

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China's fiscal expenditure jumped 36.1 per cent in October from a year earlier, the biggest per centage rise since July 2012, while fiscal revenue rose 8.7 per cent, Finance Ministry data showed on Thursday.

[BEIJING] China's fiscal expenditure jumped 36.1 per cent in October from a year earlier, the biggest per centage rise since July 2012, while fiscal revenue rose 8.7 per cent, Finance Ministry data showed on Thursday.

The rise in spending follows a 26.9 per cent hike from the previous month, demonstrating Beijing's efforts to offset a slowdown in the world's second largest economy.

For the first 10 months fiscal expenditure rose 18.1 per cent versus the same period last year while fiscal revenue rose 7.7 per cent, the data showed.

REUTERS

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