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China’s fiscal revenue growth slows in May

Updated: Jun 12,2017 7:35 PM     Xinhua

BEIJING — China’s fiscal revenue registered slower growth in May, climbing 3.7 percent year-on-year to 1.61 trillion yuan ($236.95 billion), the Ministry of Finance (MOF) said on June 12.

The growth retreated from a 7.8-percent gain in April and a 12.2-percent increase in March.

“The growth rate was relatively low,” the MOF said in a statement, attributing the slowdown to softened related economic indicators, continued tax breaks and a high base a year ago.

In the first five months, the fiscal revenue climbed 10 percent year-on-year to 7.72 trillion yuan.