Briefly

Fiscal spending remains strong

China's fiscal revenue dropped 1.2 percent year-on-year in the first two months of 2023, while its fiscal spending expanded 7 percent year-on-year, according to the Ministry of Finance. The ministry said the data showed that the intensity of fiscal spending had remained strong, and spending in key areas such as people's livelihood had been well ensured. Spending on social security and employment climbed 9.8 percent year-on-year, while spending on science and technology rose 3.9 percent. Of the total fiscal revenue, the central government collected about 2.18 trillion yuan ($315.5 billion) in revenue, down 4.5 percent year-on-year, while local governments collected 2.39 trillion yuan, up 2 percent year-on-year.

Postal sector logs robust growth in Feb

China's postal industry registered a robust expansion in both business revenue and parcel volume in February, official data showed. The sector raked in 114.24 billion yuan ($16.54 billion) in business revenue last month, surging more than 27 percent year-on-year, according to the State Post Bureau. China's express delivery service companies handled 9.18 billion parcels in February, up nearly 33 percent year-on-year.

Xinhua - China Daily