China's fiscal revenue experienced a 2.6 per cent decline year-on-year during the first seven months of 2024, according to data released by the Ministry of Finance. However, after adjustments accounting for factors such as favourable policies for micro, small, and medium enterprises and last year's tax reduction measures, the revenue actually rose by 1.2 per cent.

During the same period, China's fiscal expenditure increased by 2.5 per cent compared to the previous year.

Fibre2Fashion News Desk (DP)