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    Local governments' fiscal revenue growth slows

    By Zheng Yangpeng | China Daily | Updated: 2013-08-08 06:38

    Local governments' fiscal revenue growth slows

    Property boom helps provinces, cities hit half-year targets, despite slowdown in the overall economy

    Local governments' fiscal revenue in the first half of this year generally slowed down compared with a year earlier but its growth was much faster than that of the central government because of surging housing-related revenues.

    So far, 31 provinces, municipalities and autonomous regions across China's mainland have released their half-year fiscal reports. Although all have fulfilled their six-month targets, growth has significantly slowed, providing evidence of the slowing economy's toll on tax revenue.

    Local governments' fiscal revenue growth slows

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