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China's budget spending surged more than 130 percent year on year, in the first 7 months of this year. A senior official says that's because compensation for land purchases grew rapidly.
Chinese Finance Minister Xie Xuren says government budget spending hit more than 1.3 trillion yuan from January to July this year. The government's total revenue for the first seven months reached 1.8 trillion yuan, up nearly 150 percent from one year earlier, as local governments increased revenue due to land purchases.
The report was released at the 16th Session of the Standing Committee of the 11th National People's Congress.
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