China's Tax Revenues Exceed 1 Trillion YuanChina's tax revenues in 1999 set up a historical record of 1.0312 trillion yuan.Tax revenues in China have accounted for 90% of the nation's financial income. The country has achieved increases in tax revenues by 100 billion yuan for 7 consecutive years since 1993. Last year's tax revenue worth of trillion yuan was 396 times more than the 2.6 billion yuan in the beginning of the founding of new China. The continual increase of tax revenues provides a financial foundation for the economic construction and macro control in China, which also plays an important role in lessening the nation's financial pressure. The latest statistics from the State Administration of Taxation show the tax revenues in the first half year were near 600 billion yuan, up 20% or 99.7 billion yuan year on year. (Panorama) |
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