China’s finance minister warned Wednesday pressures on growth in the world’s second-largest economy, as it reported weak manufacturing data in January.

“There are downward pressures on the economic growth in 2012,” Xie Xuren wrote in an article published on an official journal, “Meanwhile, (we are facing) a difficult task to restructure the economy and there are still many factors pushing up prices.”

Chinese exporters are facing difficulties as the outlook for China’s trade partners deteriorated, Xie noted. “As the external demand is now fading clearly, Chinese exporters are facing increasing difficulties,” he said.

China’s economy grew by 8.9 percent in the fourth quarter of 2011, the slowest pace in two and a half years, as exports weakened amid euro zone crisis and U.S. woes.

In order to maintain “a steady and fast growth” and keep prices curbed, the government would continue to focus on fiscal policy to help stimulate growth.

“It is necessary and also possible for us to continue to implement a proactive fiscal policy, as China’s deficits and indebtedness are still at a safe territory,” Xie said.

“We will further improve tax-cut policies in some areas to promote the development of enterprises and boost household consumption.”