China Fiscal Spending Picks Up in June

China's fiscal spending surged 19.1% in June from a year earlier, more than doubling May's 9.2% growth, data from the Ministry of Finance showed Friday.

An acceleration in spending on public projects, such as social welfare and employment, is a reflection of the government's implementation of a proactive fiscal policy, the ministry said.

National government revenue growth also quickened to 8.9% in June, from 3.7%, official data showed.

Strength in prices of industrial products, companies' improved profits and increased imports all contributed to steady growth in government revenue, the ministry said.

Land sales revenue, a key source of revenue for local governments, rose 34% in the first half of the year, compared with a 32.8% increase over the first five months, the ministry said.

A poll of economists by The Wall Street Journal forecasts China's economy grew 6.8% in the second quarter from a year earlier, ticking down from the first quarter's 6.9%.

-- Write to Liyan Qi at liyan.qi@wsj.com

(END) Dow Jones Newswires

July 13, 2017 23:17 ET (03:17 GMT)