China speeds up fiscal spending in October to support growth

China's government spending surged four times the pace of revenue growth in October, highlighting policy makers' determination to meet this years' growth target as a manufacturing and property investment slowdown weigh on the economy. Fiscal spending jumped 36.1 per cent from a year earlier to 1.35 trillion yuan ($210 billion), while fiscal revenue rose 8.7 per cent to 1.

44 trillion yuan, the Finance Ministry said Thursday. In the first ten months of the year, spending advanced 18.1 per cent and revenue increased 7.7 per cent. China.

This article is no longer available in our repository.

There could be multiple reasons for this.