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China’s fiscal first quarter revenue declines over 14 per cent, weighed down by coronavirus, tax relief

Summary:
[unable to retrieve full-text content]China’s fiscal first quarter revenue fell 14.3 per cent from a year earlier, the country’s finance ministry said on Monday.The decline to 4.598 trillion yuan (US0 billion) was attributed to the coronavirus outbreak and tax relief offered.Fiscal expenditures for the January-March period fell 5.7 per cent from a year earlier to 5.528 trillion yuan, the ministry said.Last year, China’s fiscal revenues grew at the slowest pace since 1987 after Beijing’s tax cuts in response to the country’s…

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[unable to retrieve full-text content]
China’s fiscal first quarter revenue fell 14.3 per cent from a year earlier, the country’s finance ministry said on Monday.The decline to 4.598 trillion yuan (US$650 billion) was attributed to the coronavirus outbreak and tax relief offered.Fiscal expenditures for the January-March period fell 5.7 per cent from a year earlier to 5.528 trillion yuan, the ministry said.Last year, China’s fiscal revenues grew at the slowest pace since 1987 after Beijing’s tax cuts in response to the country’s…
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