To boost infrastructure spending, Beijing has eased some restrictions on how special purpose bonds are issued. Photo: Reuters
China government spending flat in August as tax cuts drain revenue, delay projects
- Total government spending fell 0.2 per cent in August compared to a year earlier, the first month this year that spending did not increase
- Tax revenues fell 4.4 per cent to 9 billion yuan (US$1.2 billion) over the same period
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China economy
To boost infrastructure spending, Beijing has eased some restrictions on how special purpose bonds are issued. Photo: Reuters
China is struggling to maintain momentum in its railway infrastructure programme, after a decade-long building spree. Photo: Xinhua
China’s railway spending plummets as Beijing struggles to sustain momentum
- Railway spending in August plunged 27.1 per cent following a decade-long building spree which has given China two-thirds of the world’s high-speed rail tracks
- Railway fixed-asset investment was 449.6 billion yuan (US$63 billion) in the first eight months of 2019, a modest 2.5 per cent fall from the same period last year
Topic |
China economy
China is struggling to maintain momentum in its railway infrastructure programme, after a decade-long building spree. Photo: Xinhua