China July gov't revenue, spending up

　　China's fiscal revenues in July rose 16.2 percent from a year earlier. The growth rate rebounded from June's smaller increase.

　　The Ministry of Finance says the fiscal revenue in July totaled around 778 billion yuan. While for the first seven months, fiscal revenue grew nearly 26 percent to over 5 trillion yuan.

　　The central government has targeted an eight percent growth in fiscal revenues this year. The finance ministry said revenues will continue to fall for the rest of 2010, as it expects the pace of economic growth to slow.

　　Official figures also show that government spending was up 16.6 percent in July. Spending in the science and technology sectors accounted for almost half of the total. China has set its fiscal deficit target for this year at less than 3 percent of its GDP.