Fiscal revenues grow as economy recovers

China's fiscal revenues are growing rapidly due to the strong economic rebound, underpinning the government's efforts to further boost growth with a proactive fiscal policy.

National fiscal revenues reached 669.6 billion ($98 billion) in July, up 10.2 percent on the same period last year, the Ministry of Finance announced yesterday.

The ministry owed much of the monthly revenue increase, which jumped 19.6 percent in June and 4.8 percent in May, to robust economic recovery, strengthened collection of tax bills outstanding from last year and a rise in a consumption tax on refined oil and tobacco.