THE government said its revenue in June was 13.9 percent higher than a year earlier, thanks in part to higher property tax payments, and this supported a spike in State spending.

    The Finance Ministry said yesterday that June revenue hit 1.53 trillion yuan (US$246.5 billion) after the biggest annual percentage rise this year. May’s total was 1.44 trillion yuan, only 5 percent above the year-earlier level.

    The big rise in June was a result of companies paying more taxes on the back of stronger earnings, as well as a tentative improvement in the housing market, which has battled a downturn since 2014.

    The figures could lift hopes that China’s economy is stabilizing after a difficult half-year that climaxed with a stock market rout.

    The ministry said that property-related tax income climbed .7 percent in June from a year ago, its first annual increase his year.

    Growth in domestic consumption tax was buoyant, zooming up 1.4 percent on a yearly basis to 20.6 billion yuan, while corporate income tax increased 17.5 percent.

    The gains helped annual growth in spending quicken to 13.9 percent in June from May’s 2.6 percent. In April, expenditure spiked 33 percent from a year earlier.

    No details were given on how the government allocated its 1.88 trillion yuan expenditure last month. Authorities have repeatedly vowed to accelerate construction of key development and infrastructure projects to lift the economy.(SD-Agencies)