China's fiscal revenue falls 4.8% in January-April

China's fiscal revenue declined 4.8% in the January-April period this year, compared to the same period last year, according to the Finance Ministry, the country's state-owned media Xinhua reported on Wednesday.

China's fiscal revenue amounted to around 7.43 trillion yuan ($1.1 trillion) during the first four months of this year.

While the central government collected 3.46 trillion yuan, local governments brought in 3.97 trillion yuan in fiscal revenue, which were down 5.7% and 3.9%, respectively.

Tax revenue stood at 6.23 trillion yuan ($0.92 trillion) in the January-April period, down 7.6% from the same period of last year.