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China increases spending to 10.7% to boost slowing economy

The Chinese government took steps to boost its slowing economy. It increased spending by 10.7 per cent in the first six months of 2019. Revenue also increased 3.4 per cent over the same period. The finance ministry said spending was growing “significantly faster” than revenue. The data came hot on the heels of the news on July 15 that China’s economic growth slowed to 6.2 per cent — its slowest pace in almost 30 years.

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