China’s Q1 tax revenue up 9.8 percent

Beijing, April 20 (IANS) China collected 2.98 trillion yuan ($458 billion) in taxes in the first quarter of 2016 — up 9.8 percent year-on-year, data from the State Administration of Taxation (SAT) showed on Wednesday.

Tax collected from tertiary industry rose 12 percent year on year, accounting for 56.5 percent of the total, said the SAT, Xinhua news agency reported.

The surge in tax revenue from tertiary industry reflected China’s adjustment of the economic structure and rising consumption demand, said Zheng Xiaoying, a senior SAT official.

Meanwhile, tax revenue from high-end manufacturing also increased rapidly thanks to the country’s innovation drive.

Tax collected from computer communications, pharmaceuticals and aerospace equipment manufacturing in the first quarter rose 8.3 percent, 11.6 percent and 11.9 percent, respectively.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here