China's fiscal revenue growth slows in 2014
Shrinking govt tax base is curbing scope for stimulus and onus may fall on central bank
Beijing
CHINA'S fiscal revenue increased the least in a generation last year, curbing the scope to stimulate demand.
Government revenue rose 8.6 per cent in 2014, according to a statement on the Ministry of Finance's website, down from 2013's 10.2 per cent increase and a peak of 32 per cent in 2007.
Public expenditure rose 8.2 per cent, the least since 198…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Indonesia’s central bank surprises with ‘pre-emptive’ rate hike to cushion falling rupiah
South Korea’s economic growth beats forecast as exports rise
China 2024 growth outlook raised to 4.8%, deflation risk lingers
Luxury sector outlook clouded by China’s slow recovery
‘We aren’t going anywhere’: TikTok CEO expects to defeat US restrictions
TikTok artists and advertisers to stay with app until ‘door slams shut’