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China's tax revenue is expected to reach 1.7 trillion yuan (US$205 billion) this year, an increase of 200 billion yuan (US$24 billion) from last year, said Director of the State Administration of Taxation Jin Renqing Wednesday.
Jin said at a national conference on taxation that China's tax revenue totaled 6.4 trillion yuan (US$771 billion) from 1997 to 2002, more than double that of the previous five years. This year's tax revenue would account for nearly 17 percent of the gross domestic product, 6 percentage points higher than five years ago.
China would establish a mechanism for sustained steady growth of tax revenue in a couple of years to come. Work would be done to ensure tax revenue grows at the same speed as or slightly faster than the national economy as a whole, Jin said.
The projected 7-percent economic growth rate next year would lay a solid foundation for an increase in tax revenue, Jin said.
(Xinhua News Agency December 26, 2002)
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