China fiscal revenue grew at slower pace in March amid rising downward pressure on economy, fiscal spending picked up

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The growth of China fiscal revenue slowed sharply in March, with tax revenue slipping into falling territory amid rising downward pressure on the economy, while government spending accelerated.

Fiscal revenue grew 3.4% in March from a year earlier, slowing from the 10.5% growth for the first two months of the year, according to data released by the Ministry of Finance on Wednesday.

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