China's fiscal revenue growth slows in May

China's fiscal revenue registered slower growth in May, climbing 3.7 percent year on year to 1.61 trillion yuan (236.95 billion U.S. dollars), the Ministry of Finance (MOF) said Monday.

The growth retreated from a 7.8-percent gain in April and a 12.2-percent increase in March.

"The growth rate was relatively low," the MOF said in a statement, attributing the slowdown to softened related economic indicators, continued tax breaks and a high base a year ago.

In the first five months, the fiscal revenue climbed 10 percent year on year to 7.72 trillion yuan.

(ASIA PACIFIC DAILY)