MNI DATA: China Spending and Revenue Accelerate: Fin Ministry

     BEIJING (MNI) - China's fiscal spending in April increased 8.2% from last

year to CNY1.47 trillion, compared with a 3.8% gain in the same period last

year.

     Spending by the central government increased 9.4% y/y in April to CNY292.7

billion, compared with a growth of 3% last year. Local government spending rose

7.8% to CNY1.18 trillion, compared with a 3.9% rise in the same period last

year.

     Total revenue gained 11% to CNY1.85 trillion in April from a year ago,

compared with an increase of 7.8% in the same period of 2017.

     Central government revenue rose 12.5% to CNY918.8 billion in April, higher

than the 6.9% growth last year, while local government incomes increased 9.5% to

CNY928.5 billion, compared with a gain of 8.6% last April, the ministry's data

showed. 

     Tax revenue rose 14.6% to CNY1.66 trillion last month, compared with a

growth of 4.9% in same period last year, while non-tax incomes dropped 12.9% to

CNY190.6 billion.

     Value-added tax, consumption tax and corporate income tax increased 18.4%,

24% and 13% y/y respectively to CNY2.35 trillion, CNY509.5 billion and CNY1.37

trillion during the first quarter, the data showed.

--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com

--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com

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