China's Fiscal Revenue Declines

BEIJING (Reuters) – China's fiscal revenue in the first 11 months of 2024 fell 0.6% from a year earlier, a slight improvement from a 1.3% decline in the January-October period, according to data released by the finance ministry on Monday.

Expenditure Increases

Fiscal expenditure grew by 2.8% during the first 11 months, which is a marginal increase compared to the 2.7% rise seen in the first 10 months.

Economic Recovery

The recovery of China’s economy remained uneven in November, as bank lending growth significantly lagged behind expectations. Additionally, consumer inflation reached a five-month low, which has led to ongoing demands for more stimulus measures to boost weak domestic demand.