China Fiscal Spending Soars at Twice Gain Seen in Revenue
- Government spending jumped to 1.61 trillion yuan in November
- Receipts from land sales slumped 29.2% in the first 11 months
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China’s government spending surged in November at more than double the pace of gains for revenue, a signal the government has stepped up fiscal stimulus.
Fiscal spending jumped 25.9 percent from a year earlier to 1.61 trillion yuan ($249 billion), while revenue rose 11.4 percent to 1.11 trillion yuan, the Ministry of Finance said in a statement on Monday. China’s government usually registers some of its biggest expenditures in the last two months of the year as provincial authorities rush to complete projects and meet spending targets.