BEIJING (Reuters) – China’s fiscal revenue in 2024 rose 1.3% year on year, narrowing from 6.4% expansion in 2023, finance ministry data showed on Friday, as a property market slump and slowing domestic demands weighed on the economy.
Fiscal expenditure grew 3.6% last year, slowing from 5.4% in 2023.
China’s top leaders have pledged to adopt a more proactive fiscal policy this year as external headwinds loom with a second Trump administration.
(Reporting by Ethan Wang and Ryan Woo)
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