China October government spending down 12.5%

[BEIJING] Government spending in China dropped 12.5 per cent in October from a year earlier, while revenue rose 5.9 per cent, the Ministry of Finance said on Monday.

Government spending in the first 10 months of the year was up 10 per cent from a year earlier, while revenues rose 5.9 per cent.

China has relied on government spending to stabilise growth this year as private companies pull back, but concerns about the country's debt load are increasing.

REUTERS