‘Foundations’ of China’s economic rebound yet to be ‘consolidated’ as fiscal revenue fell in 2020

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China’s fiscal revenue fell 3.9 per cent in 2020 from a year earlier, while expenditure rose 2.8 per cent, the finance ministry said on Thursday, underscoring the difficulties in government finances amid the coronavirus pandemic.However, as the world’s second-largest economy bounces back from coronavirus-triggered paralysis, growth in fiscal revenue accelerated to 5.5 per cent in the fourth quarter, from 4.7 per cent the previous quarter, the ministry added.China’s economy picked up speed in…

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