BEIJING, June 24 China may have difficulty
meeting its fiscal revenue target for 2014 due to a slowing
economy and tax reform, the country's finance minister said on
"For the rest of the year, as the downward pressure remains
for the economy, and as China expands experiments to replace
income tax with value-added tax, we expect difficulty achieving
the public revenue target," finance minister Lou Jiwei told a
regular meeting of the Standing Committee of the National
People's Congress, China's parliament.
Fiscal revenues rose 7.2 percent in May from the same month
last year, slowing from a 9.2 percent rise in April. The
ministry attributed the smaller annual increase in May to the
slowdown in the economy and falling property
The government is aiming for a fiscal deficit equivalent to
2.1 percent of GDP this year.
(Reporting by Chen Aizhu; Editing by Hugh Lawson)