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China's tax revenues up 9.4% in H1


07-21-2016 01:16 BJT

Chinese officials say the country's tax revenues increased 9.4 percent in the first half of 2016 as the implementation of structural reforms showed some effects. 

China's tax revenues stood at 6.5 trillion yuan in the first half of 2016, up 9.4 percent year on year. Tax income from the tertiary industry occupied nearly 60 percent of the total in an increase of over 10 percent.

"In the tertiary industry, the new service industry grew rapidly," said Zheng Xiaoying, State Administration of Taxation.

"Tax revenue from the software and information service and rental, and commercial service sectors increased 39 percent and 27.7 percent respectively, and became a key driver for the tax growth of the tertiary industry."

Education, healthcare and culture and entertainment sectors also recorded higher tax income.

"It shows that residents are satisfied with material life consumption, and are pursuing upgraded consumption in education, healthcare and entertainment," Zheng said.

In the secondary industry, high-end manufacturing earned higher taxes. That included aerospace equipment, pharmaceutical and automobile manufacturing.

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