Tax & Spend
China’s Central Government Steps Up Spending to Bolster Economy
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China’s central government accelerated spending at the start of the year, a sign it’s taking on more financing responsibility to support the economy and to avoid worsening local government debt risks.
Its general public expenditure jumped 14% from a year earlier to 482.8 billion yuan ($66.8 billion) in January and February combined, the fastest pace for the period in five years, according to data provided by the Ministry of Finance.