China's fiscal spending remains strong

China's fiscal revenue fell 1.2 percent year-on-year in the first two months of this year, while the country's fiscal expenditure went up by 7 percent year-on-year during the same period, the Ministry of Finance said on Friday.

The ministry said that the increase showed that the intensity in fiscal spending has remained strong, and that spending in key areas such as people's livelihood has been well ensured.

Tax revenue in the first two months declined by 3.4 percent year-on-year. Revenue from value-added tax (VAT) increased by 6.3 percent while revenue from consumption tax plumped by 18.4 percent compared with the same period last year.