Xiang Huaicheng: China first 4 months financial revenue soars 29%

Finance Minster Xiang Huaicheng claimed yesterday that the first 4 months financial revenue in China surged RMB117.1 bln, or 28.8% from the same 2000 period to hit RMB520 bln, the best figure in history.

However, he pointed out that the second-half performance would be lower than that of the first half, for China depended more heavily on earnings from foreign trade and its economy would be affected by the slowdown in global economy.

He added that China established the stable growth system of national financial revenue and would put focus on the reform of financial expenditure.

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