BEIJING : China's fiscal revenue rose 0.6 per cent in 2022 from a year earlier, slowing sharply from a 10.7 per cent increase in 2021 due to huge tax rebates for businesses to support the COVID-ravaged economy, data from the finance ministry showed on Monday.Fiscal revenues totalled 20.37 trillion yuan ($
BEIJING : China's fiscal revenue rose 0.6 per cent in 2022 from a year earlier, slowing sharply from a 10.7 per cent increase in 2021 due to huge tax rebates for businesses to support the COVID-ravaged economy, data from the finance ministry showed on Monday.
The world's second-largest economy grew 3 per cent in 2022 from a year earlier, badly missing the official target of around 5.5 per cent and hitting one of its worst rates in nearly half a century. Growth is expected to rebound to nearly 5 per cent in 2023, after Beijing ditched harsh COVID curbs in early December.
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