China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (5111)	7/4/2005 3:23:04 PM
From: RealMuLan	Read Replies (1) of 6370

China tax revenue in year-to-late June up 21.5 pct as economy powers ahead 07.04.2005, 05:46 AM BEIJING (AFX) - China recorded a 21.5 pct year-on-year rise in tax revenue for the period of January to late June due to relatively fast economic growth, the tax administration said. In a statement on its website, the State Administration of Taxation said total tax revenue for the period from January 1 to June 20 reached 1.49 trln yuan. It said that the growth for the period compared with a 26.2 pct year-on-year rise in the the first half of last year. China is seeing its fiscal situation improve as tax revenue increases on the back of strong economic growth and the government cuts spending to curb investment to deflect inflationary pressure. The central government has set a target for its fiscal deficit of two pct of GDP for this year compared with 2.7 pct in 2004. (1 usd = 8.3 yuan) allen.feng@xinhuafinance.com forbes.com

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