BEIJING, July 25 (Reuters) - China's fiscal revenue dipped 0.3% in the first six months from a year earlier, the finance ministry said on Friday, unchanged from the decline in the January-May period.
Fiscal expenditure increased 3.4% year-on-year in the January-June period, slower than the 4.2% rise in the first five months, ministry official Tang Longsheng told a press conference.
Fiscal revenue in the first six months totalled 11.56 trillion yuan ($1.61 trillion) while expenditure totalled 14.13 trillion yuan, Tang said.
Tax revenue fell 1.2% in January-June from a year earlier and non-tax revenue grew 3.7%.
China has allocated 69 billion yuan in special bonds for the consumer good trade-ins programme, the third batch this year, another ministry official Wu Gai said.
Friday's data also showed revenue from land sales by China's local governments slid 6.5% in the first six months, versus a 11.9% drop in January-May.
China's economy slowed less than expected in the second quarter despite U.S. tariffs, though analysts caution that weak domestic demand and rising global trade risks may drive policymakers to introduce additional stimulus measures.
($1 = 7.1656 Chinese yuan)
Reporting by Kevin Yao and Beijing Newsroom; Editing by Jacqueline Wong
Source: Reuters