Ministry of Finance deputy director Ma Hongbing said cumulative growth in
national general public budget revenue rose month-on-month, reflecting resilient
economic activity; price increases, an active equity market and strong foreign
trade materially supported revenue growth. 1H national general public budget
expenditure totaled 14.33 tln yuan, up 1.5% YoY. Authorities said they
maintained necessary fiscal spending to protect priority areas. Major items:
social security and employment spending 2.636 tln yuan (+7.6% YoY); health
spending 1.219 tln yuan (+10.8% YoY).
