China May fiscal spending up 10.8 pct on yr

BEIJING, June 11: China’s fiscal spending grew 10.8 percent in May from a year earlier, while revenues rose 13.1 percent, the Ministry of Finance said on Monday.
The spending growth in May was stronger than April’s annual rise of 8 percent, while the revenue growth was also higher than the 6.9 percent rise in the previous month.
China has been fast-tracking investment projects in recent weeks and increased state incentives to spur energy-efficient consumer spending as part of its efforts to boost its slowing economy.