China's fiscal revenue grew at the slowest pace since 1991, data from the Ministry of Finance showed Friday.
Revenue increased 8.6 percent to CNY 14.03 trillion in 2014 compared to a 10.2 percent rise in 2013. Land sales revenue gained only 3.2 percent due to the slowdown in property market activity.
At the same time, fiscal expenditure rose at a slower pace of 8.2 percent to CNY 15.16 trillion.
As a result, the fiscal deficit came in at CNY 1.13 trillion in 2014.
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