China's fiscal revenue dropped 6.6% year on year during the first nine months of 2022, official data showed. This was reported by The Xinhua News Agency.
The country's fiscal revenue amounted to approximately ¥15.3 trln (about $2.13 trln) during this period, according to the Ministry of Finance.
Excluding the impact of value-added tax credit refunds, fiscal revenue grew 4.1% from a year earlier.
The central government collected about ¥6.99 trln in fiscal revenue, down 8.6%, and local governments collected ¥8.32 trln, down 4.9%.
Tax revenue came in at nearly ¥12.44 trln in the January-September period, down 11.6% year on year.
Fiscal spending rose 6.2% year on year to hit around 19.04 trln during the period, according to the ministry.
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