According to the Ministry of Finance, education, Social Security and employment receive the majority of the resources, at US$1.52 trillion.

China’s general government budget expenditure rose 3.4 percent year on year to 10.8359 trillion yuan (1.52 trillion U.S. dollars) in the first five months of 2024, the Ministry of Finance said Monday.

Education, Social Security and employment took the lion’s share of spending, while sectors related to agriculture, forestry and water conservation recorded the fastest growth rate during the period.

The data also shows that China’s general public budget revenue declined 2.8 percent annually to 9.6912 trillion yuan in the period.

Tax revenue totaled 8.0462 trillion yuan during the January-May period, down 5.1 percent year on year, with a comparable increase of about 0.5 percent after deducting the impact of special factors, the agency said.

With information from Xinhua.


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