China said the ratio of 2020 government debt-to-gross domestic product stood at 45.8 per cent, which was lower than the international redline of 60 per cent. Photo: Getty Images
‘Foundations’ of China’s economic rebound yet to be ‘consolidated’ as fiscal revenue fell in 2020
- China’s fiscal revenue fell 3.9 per cent in 2020 from a year earlier, while expenditure rose 2.8 per cent, the finance ministry said on Thursday
- However, growth in fiscal revenue accelerated to 5.5 per cent in the fourth quarter, from 4.7 per cent the previous quarter
China said the ratio of 2020 government debt-to-gross domestic product stood at 45.8 per cent, which was lower than the international redline of 60 per cent. Photo: Getty Images
