Chinese government spending surged in May as Beijing sought to reinvigorate growth as fears persisted over an economic slowdown and the bursting of a property bubble.
Expenditure by local and central governments in China jumped nearly 25 per cent from the same month a year earlier, a sharp acceleration from the 9.6 per cent growth registered in the first four months of the year, according to figures released by the finance ministry.
Spurred by this year’s sharper slowdown than expected, the government has tried to support growth, by ramping up spending on infrastructure and gradually loosening monetary policy.
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