Fiscal fitness

The double-digit growth of fiscal revenue in June will allow Chinese policymakers to get their breath back after seeing the government's revenues shrunk by 7 percent year on year in the first five months.

Though the country still faces an uphill struggle to meet its target of 8-percent growth in government revenues this year, the latest improvement in the health of fiscal accounts indicates that China has a great chance to survive the ongoing global recession without sacrificing fiscal sustainability.

China's fiscal revenue jumped by almost 20 percent in June after a 4.8 percent revenue growth in May reversed the recent downtrend.