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Fiscal expenditure rose 3.5% in the first four months, versus a
2.9% gain in the first quarter, according to finance ministry
data released on Monday.
For April alone, fiscal revenue fell 3.7% against a 2.4% decline
in March, while fiscal spending was up 6.1%, compared with
March's 2.9% fall, according to Reuters' calculations based on
the ministry data.
Excluding factors such as last year's high base and tax cut
policies, fiscal revenue in the first four months grew 2%, the
ministry said in a statement.
China has set an ambitious economic growth target of around 5%
for this year, which many analysts say will be a challenge to
meet as prolonged weakness in the property sector and tepid
consumer demand remain a drag on the economy.
Factory output topped forecasts in April, helped by improving
external demand, but retail sales unexpectedly slowed and the
property sector remained a key drag on the economy, piling
pressure on Beijing to do more to support growth.
The expansion of outstanding total social financing (TSF), a
broad measure of credit and liquidity, hit a record low of 8.3%
in April, amid lagging government bond issuance.
China on Friday unveiled "historic" property easing measures and
the finance ministry kicked off the issuance of 1 trillion yuan
in long-dated special treasury bonds to stimulate key sectors of
the economy.
(Reporting by Qiaoyi Li, Ellen Zhang and Ryan Woo; Editing by
Sharon Singleton)
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