China's fiscal revenue picks up speed in July

BEIJING, Aug. 11 (Xinhua) -- China's fiscal revenue registered faster growth in July, the Ministry of Finance (MOF) said Friday.

Fiscal revenue gained 11.1 percent year on year to 1.65 trillion yuan (nearly 250 billion U.S. dollars) last month, up from the 8.9-percent growth in June, according to the MOF.

Fiscal expenditure rose 5.4 percent year on year to 1.35 trillion yuan, slowing from the 19.1-percent increase in June. The MOF said the July's deceleration was attributed to faster fund allocation than in previous months.