Chinanews, Beijing, December 13 – It is estimated that China's tax revenue growth in 2006 will exceed 700 billion yuan, a new high after the 500-billion-yuan leap in 2005.

 

This information was revealed by Gao Peiyong, vice director of the Institute of Finance and Trade Economics, at the 8th Chinese Economists Forum. China's tax revenue in the first 9 months of 2006 was 2.84 trillion yuan, a 22.5% growth compared with the same period last year and the first time for annual tax revenue growth to break 500 billion yuan. It will be easy for tax revenue growth to reach 700 billion yuan, even 800 billion before 2007.

 

These years, China's tax revenue has grown much faster than its GDP. In 2003, its GDP increased by 8.5% while tax revenue by 20.3%. In 2004, its GDP growth was 9.5%, and tax revenue leaped by 25.7%.