Slowdown prompts calls for more funding
By Wei Tian | China Daily | Updated: 2013-07-16 07:13
The revenues of Chinese governments slowed in the first half of the year, prompting experts to call for measures to revitalize the economy by delving into the nation's coffers.
China's fiscal revenue grew 7.5 percent year-on-year to 6.86 trillion yuan ($1.12 trillion) in the first six months of the year, according to data released by the Ministry of Finance on Monday.
In June alone, fiscal revenues at all government levels reached 1.24 trillion yuan, up 12.1 percent from a year earlier, said the ministry. The pace in the first half was 4.7 percentage points lower than the same period of last year and slightly lower than the country's economic growth of 7.6 percent in the first half of this year.
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