May fiscal data point to 'recovery'

An up-tick in China's fiscal revenue situation signals a recovery in the economy and gives the government more room to use active fiscal measures to boost it, experts said.

And, June to October would be the key period when the treasury would be able to judge whether it can realize an earlier target of 8 percent year on year revenue growth, they pointed out.

China's nationwide fiscal revenue was up 4.8 percent in May from a year earlier, at 656.9 billion yuan, reversing the downward trend of the past few months, the Ministry of Finance (MOF) said yesterday. The national revenue in April had dropped 13.6 percent from a year earlier. And, combined central and local government revenues in the first five months totaled 2.71 trillion yuan, a fall of 6.7 percent year on year.