China fiscal revenue growth at 23-year low

China's fiscal revenue increased the least since 1991 last year, curbing scope to stimulate demand. Government revenue rose 8.6 per cent in 2014, according to a statement on the Ministry of Finance's website, down from 2013's 10.2 per cent increase and a peak of 32 per cent in 2007. Public expenditure rose 8.2 per cent, the least since 1987. Fiscal revenue, which includes taxes and other receipts such as fines, totalled 14 trillion yuan in 2014. Expenditure was 15.2 trillion yuan.