Central government increases spending
China moved to stimulate the economy in May through more government spending.
Fiscal spending jumped 24.6 percent year-on-year in May to 1.3 trillion yuan ($208 billion), according to data from the Ministry of Finance. The surge was in sharp contrast to the 9.6 percent rise in the first four months.
In the first five months, fiscal revenue climbed 8.8 percent while fiscal expenditures rose 12.9 percent from a year earlier, the ministry said. Central government spending rose 15.8 percent in May, while local government expenditure soared 26.9 percent, the ministry said on its website.
During the first five months, there was double-digit growth in spending on agriculture development and projects to raise living standards, according to the data.