Fiscal expenditures for the January-March period fell 5.7 per cent from a year earlier to 5.528 trillion yuan, the ministry said. Photo: EPA-EFE

China’s fiscal first quarter revenue declines over 14 per cent, weighed down by coronavirus, tax relief

  • China’s fiscal first quarter revenue fell to 4.598 trillion yuan (US$650 billion), down 14.3 per cent from a year earlier
  • Last year, China’s fiscal revenues grew at the slowest pace since 1987 after Beijing’s tax cuts in response to the country’s economic slowdown
Topic |   Coronavirus pandemic
Fiscal expenditures for the January-March period fell 5.7 per cent from a year earlier to 5.528 trillion yuan, the ministry said. Photo: EPA-EFE
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