China's finance ministry on Wednesday reported that fiscal revenues in the first three quarters of 2020 slipped by 6.4% year on year to about 14 trillion yuan. A 13.5% decline in revenues from China's value-added tax largely contributed to the fall. The ministry noted that growth in third-quarter fiscal revenues actually turned positive, thanks to the country's ongoing economic recovery. Fiscal expenditures were down by 1.9% over the first three quarters. The ministry also vowed to continue easing tax burden on enterprises.