China’s fiscal revenue growth to dwindle in H2

China’s fiscal revenue growth is likely to slow significantly in the second half, compared with a 21.8 percent yearon-year jump in the first six months, a Finance Ministry official said on Tuesday.

China’s economic recovery and rising domestic producer prices boosted fiscal revenue growth in the first half of the year, Liu Jinyun told a news briefing.

First half tax revenue rose 22.5 percent from a year earlier, while non-tax revenue grew 17.4 percent, Liu said.

Fiscal expenditures rose 4.5 percent in the first half from a year earlier, Liu said.

Xiang Zhongxin, a second ministry official, told the same briefing that local governments had issued a net 1.0144 trillion yuan ($156.56 billion) in special bonds by the end of June.