China's January-October fiscal revenue falls 1.3% from a year earlier

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November 18, 2024 4:05 AM EST

FILE PHOTO: A woman cycles past the Beijing Stock Exchange building adorned with Lunar New Year decorations, on the Financial Street in Beijing, China February 8, 2024. REUTERS/Florence Lo/File Photo

BEIJING (Reuters) - China's fiscal revenue in the first 10 months of 2024 fell by 1.3% from a year earlier, narrowing from a 2.2% decline in the January-September period, the finance ministry data showed on Monday.

Fiscal expenditure increased 2.7% in the first 10 months of the year, following a 2% rise in the first nine months of 2024.

October data has painted a mixed picture for China's economic recovery, despite policy support rolled out since late September.

China unveiled a 10 trillion yuan debt swap package earlier this month aimed at alleviating the financial strain on local government debt burdens, as concerns mount over the potential trade disruptions following Donald Trump's U.S. election victory.

(Reporting by Ethan Wang, Ellen Zhang and Ryan Woo; editing by Christian Schmollinger)


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