China's Fiscal Revenue Shrinks 2.8% on Year in First Half

CHINA - BEIJING. China's fiscal revenue slid 2.8% in the first half of 2024 from a year earlier, unchanged from a 2.8% fall in the January-May period, official data showed on Monday, as prolonged weakness in domestic demand dampened the outlook for an economic recovery.

Fiscal expenditure was up 2% in the first half, against a 3.4% increase in the first five months, according to finance ministry data.