Fiscal revenue rises in first five months

China’s fiscal revenue rose 24.2 percent on a yearly basis in the first five months. According to data released by the Ministry of Finance on Thursday, the country’s fiscal revenue reached 9.65 trillion yuan ($1.5 trillion) during the reporting period. Tax revenue came in at nearly 8.38 trillion yuan in the January-May period, up 25.5 percent year-on-year. Revenue from value-added tax jumped 24 percent from a year earlier, while stamp tax revenue saw an increase of 42.9 percent.