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China fiscal revenue up 14.1 pct in first quarter

Xinhua, April 14, 2017 Adjust font size:

China's fiscal revenue rose 14.1 percent year on year to 4.44 trillion yuan (645.9 billion U.S. dollars) in the first quarter, according to the Ministry of Finance Friday.

The growth retreated from the 14.9-percent gain seen in the January-February period.

In March alone, fiscal revenue went up 12.2 percent to 1.29 billion yuan.

The ministry attributed the rapid growth to rising prices at the factory gate, a firming economy, and recovering exports and imports.

In the first three months, fiscal spending surged 21 percent year on year to 4.59 trillion yuan.

This year the fiscal deficit is projected to be 3 percent of GDP, or 2.38 trillion yuan, according to a government work report last month. Endit