The Chinese government spent more than anticipated from January to September leaving a lower-than-expected budget for fourth-quarter stimulus, as revenue growth slowed, Bloomberg reported, citing Ministry of Finance data. In the first nine months of the year, spending rose 21.1%, far more than the projected 14.1% rise. In the same period, revenue increased 10.9% to US$1.5 trillion, compared with a 29.5% increase in 2011 during the same months. The government may choose to expand the budget as a result, drawing on the country’s US$3.3 trillion in foreign-exchange reserves. “Most of the infrastructure investment is not financed explicitly by fiscal resources or on the budget but through other means,” said Wang Tao, chief economist at UBS (UBS.NYSE). Instead, bank finance and revenue from bond sales are the primary means of funding, she said.