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China's July fiscal spending growth eases to 9.6 percent year/year

Labourers work on a construction site in Guangzhou, Guangdong province, August 8, 2014. REUTERS/Alex Lee

BEIJING (Reuters) - China's fiscal expenditure grew 9.6 percent in July from a year earlier to 1.03 trillion yuan (99.7 billion pounds), the finance ministry said on Monday, indicating the government is slowing budget spending as the economy shows signs of stabilising.

The spending growth cooled from a rise of 26.1 percent in June.

China's fiscal revenues rose 6.9 percent in July from a year ago to 1.27 trillion yuan, the ministry said in a statement published on its website, www.mof.gov.cn.

China's economic growth edged up to an annual pace of 7.5 percent in the second quarter, from an 18-month low of 7.4 percent in the first quarter.



(Reporting by Xiaoyi Shao and Koh Gui Qing; Editing by Richard Borsuk)