China may struggle to meet this year's fiscal revenue target, the finance minister warned on June 24.

The central treasury received 2.9 trillion yuan ($472 billion) from January to May, a year-on-year growth of 6.3 percent, 0.7 percentage points lower than the budgeted target, said Lou Jiwei, when briefing lawmakers on the final accounts for 2013.

This year's budgeted growth of central fiscal revenue is 7 percent. The government is "under heavy pressure," Lou said.

Difficulties lie in the downward pressure on the economy and the program to replace business tax with value-added tax (VAT) in some service sectors, which will reduce tax revenue by some degree, Lou said.