Fiscal revenue up 5.5% in October

China's fiscal revenue increased 5.5 percent year-on-year in October, data from the Ministry of Finance showed. According to a breakdown of the data, the country's tax revenue edged up 1.8 percent from a year earlier. The monthly fiscal revenue continued its growth trajectory, reflecting stronger economic recovery momentum.

More auto trade-ins on policy support

China reported a rapid increase in auto trade-ins, thanks to policy support designed to benefit consumers. The Ministry of Commerce said on Tuesday that it had received over 4 million subsidy applications for trade-ins of passenger vehicles as of Monday under a mass renewal program initiated early this year. Currently, people trading in an old car for a new energy vehicle are entitled to a 20,000 yuan ($2,781) subsidy, while those buying a new gas car will get 15,000 yuan.

Xinhua - China Daily