20 March 2026 | 2:24PM HKT Economics Research China: Augmented fiscal deficit widened in January-February Bottom line: Year-on-year growth in on-budget fiscal revenue and expenditure both rebounded in January-February, thanks mainly to favorable base effects. In sequential terms, fiscal revenue growth accelerated, while fiscal expenditure growth slowed. Property-related government revenue remained depressed, as land sales revenue continued to post a double-digit year-on-year contraction. Combining on-budget ...