Finance official warns of fiscal pressure (2)

China's fiscal revenues grew 11.9 percent year on year to 10.89 trillion yuan (1.73 trillion U.S. dollars) in the first 11 months of the year, according to MOF data.

The growth was outpaced by fiscal expenditure during that period, which rose 17.9 percent year on year to 10.5 trillion yuan. It was also sharply slower than the 26.8-percent revenue increase seen in the same period of last year.

The fiscal pressure, together with potential financial risks, rising production costs and weakening demand, will threaten future growth despite recent signs of recovery in the world's second-largest economy, Li said.

China's economy expanded 7.4 percent year on year in the third quarter of 2012, slowing for a seventh consecutive quarter due to flagging exports and property investment.

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