Chinese economy recovers as fiscal revenue grew by 11.9% in January-April

Posted on May 22, 2023   |  

From January-April, China's fiscal revenue grew by 11.9% compared to 2022, accelerating sharply from a 0.5% rise in January-March.

Fiscal revenue totaled 8.32 trillion yuan ($1.20 trillion) while fiscal expenditure grew by 6.8% to 8.64 trillion yuan.

In April, fiscal revenue grew by 70% from a year earlier, a sharp increase from the 5.5% increase in March.

In Q2 2023, China's economy is expected to grow by 8% from 2022, speeding from the first quarter's 4.5% rate.