China
reports 11 percent growth in tax revenue
(09/16/2002)
China's tax revenue amounted to 1. 121 trillion yuan (135 billion
US dollars) during the first eight months of this year.
The figure represents a growth of 11 percent or 111.4 billion yuan
(13.4 billion dollars) over the same period last year, officials
with the State Administration of Taxation has said.
This stable growth lays a good foundation for the country to reach
its tax revenue target set earlier this year, according to the official.
Excluding tariff and agricultural tax, the tax revenue includes
682 billion yuan (8.3 billion dollars) collected by the central
government, up 10.6 percent, and 438.9 billion yuan (5.35 billion
dollars) collected by local governments.
Indirect tax has also become the major part of the tax revenue,
totaling 646.7 billion yuan (7.88 billion dollars) during the eight-month
period, up 12.7 percent, accounting for 65.4 percent of the total
increased tax revenue.
Income tax from overseas-funded enterprises increased 29 percent
and individual income tax revenue also grew by 23.8 percent, while
income tax from Chinese enterprises rose only 4.3 percent.
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...
Jiang Zemin, in his report to the 16th National
Congress of the Communist Party of China, said the Party's door
is open to all positive factors of the society, including private
entrepreneurs, foreign-invested firm employees, self-employed businessmen
and freelance professionals, he also said that the Party should
advance with the times. What's
your opinion?