BEIJING, Dec. 16 -- China's fiscal revenue dipped 0.6 percent year on year in the first 11 months of 2024, according to data from the Ministry of Finance on Monday.

The figure narrowed from a 1.3 percent decline reported in the first 10 months.

From January to November, the central government collected approximately 8.94 trillion yuan (about 1.24 trillion U.S. dollars) in fiscal revenue, down 2.5 percent year on year, while local governments collected about 10.96 trillion yuan, up 1.1 percent, according to the ministry.

The country's fiscal expenditure expanded 2.8 percent year on year during the same period.

The central government's fiscal expenditure rose 8.1 percent year on year, compared to a 1.9 percent increase in local government expenditure.