China Ramps Up Tax Collection While Pulling Back on Spending

China Ramps Up Tax Collection While Pulling Back on Spending

China Ramps Up Tax Collection While Pulling Back on Spending - Drop in fiscal expenditure and worsening decline in land sales revenue reflect persistent economic headwinds

China dials back budget spending by most in over four years

The move suggests Chinese authorities are leaning towards containing debt risks now that Beijing’s growth target of around 5% for this year looks safely within reach