Tax income -5.1% y/y to 8 trillion yuan, government land sales income falls 14% y/y to 1.28 trillion yuan, and securities transaction stamp duty -50.8% to 43.9 billion yuan.
The Jan-May fiscal spending rises 3.4% y/y to 10.8 trillion yuan. 
Total revenues, which include the general public budget and the government funds budget, fell 4.1% during January-May from last year to 11.36 trillion yuan ($1.6 trillion). That’s the stee...