China fiscal revenue rises 14.4% in April

China's fiscal revenue rose 14.4 percent year on year to 1.55 trillion yuan ($238.8 billion) in April, data from the Ministry of Finance showed on Friday. [Photo/chinadaily.com.cn]

BEIJING - China's fiscal revenue rose 14.4 percent year on year to 1.55 trillion yuan ($238.8 billion) in April, data from the Ministry of Finance showed on Friday.

In the first four months, fiscal revenue went up 8.6 percent to 5.44 trillion yuan.

"The foundation for continued revenue growth remains unsteady as downward pressures on China's growth stay and economic restructuring still faces many challenges," the ministry noted.

In April, fiscal spending gained 4.5 percent to hit 1.31 trillion yuan, bringing expenditures for the January-April period to 5.1 trillion yuan, up 12.2 percent year on year.

To cushion the blow from sluggish revenue growth and balance the need for proactive fiscal policy to support growth, China plans to increase its deficit-to-GDP ratio to 3 percent this year from 2.3 percent last year.