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 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
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
China economy

‘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

Topic |   China economy
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 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
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
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