China's Ministry of Finance announced Wednesday that the country's fiscal revenue in July rose 10.2% year on year to 669.59 billion yuan. 375.24 billion yuan of the total went to the central government and the rest went to local governments.

Fiscal revenue dropped 9.9% in the first 4 months.  However, the trend has been turned around since May, when 4.8% annual growth was realized.  In June, the growth rate jumped to 19.6%.

The ministry attributed the rebound mainly to the improvement in the country's economy, rising business taxes, consumption tax, and cigarette tax.

For the overall decline in the first 7 months, the ministry attributed to weak business profits, tax cuts and rising export rebates amid the economic slowdown.

Fiscal expenditure in July rose 9.3% from a year earlier to 498.567 billion yuan. The first seven months saw the fiscal expenditure shoot up 23.5% to 3.3889 trillion yuan. From January to July, expenditure shoot up 110.3 billion yuan, or 59.4% year on year on agriculture, forestry, and fishing sectors , 22.2 billion yuan or 55.9% on environmental protection, 57.84 billion yuan or 50.8% on transportation, 44.96 billion yuan or 40.6% on healthcare, and 26.1 billion yuan or 31.8% on science and technology.