Key facts
- China's general public budget revenue increased by 6.6% year-on-year in May.
- The revenue growth was attributed to rising prices and steady economic growth.
- General public budget spending declined for the second consecutive month.
China's general public budget revenue saw a year-on-year increase of 6.6% in May, according to official data released on Monday. This growth was primarily fueled by rising prices and sustained economic expansion. Despite the rise in revenue, general public budget spending experienced a contraction for the second consecutive month. The data suggests a divergence between government income and expenditure, with revenue bolstered by market conditions while spending shows a retrenchment.