China's government spending rises 10.3 percent year-on-year in August

September 12, 2016 9:30 PM EDT

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BEIJING (Reuters) - Government spending in China rose 10.3 percent in August from a year earlier, while revenue rose 1.7 percent, the Ministry of Finance said on Tuesday.

Growth in spending rose sharply from 0.3 percent in July, while revenue growth slowed from July's 3.3 percent expansion.

Government spending in the first eight months of the year was up 12.7 percent from a year earlier, while revenues rose 6.0 percent.

China has relied on government spending to stabilize growth this year as private companies pull back, but concerns about the country's debt load are increasing.

(Reporting by Beijing Monitoring Desk)

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