Government takes up bigger slice of fiscal pie: former tax official ecns.cn/cns-wire/2014/07-31/127210.shtml Chinas government income already takes up a relatively large share of GDP, and the country should optimize its fiscal structure to tackle disparities, a former senior tax official said on Wednesday at an economic forum in Beijing. Government revenue in the first six months accounts for at least 44 percent of the countrys GDP, 26.9 trillion yuan ($4.35 trillion), up from 39 percent last year and 31 percent in 2011, according to Xu Shanda, former vice-minister of the State Administration of Taxation. Chinas fiscal revenue rose to 7.46 trillion yuan ($1.21 trillion) in the first six months, and the revenue of government funds and social insurance funds reached 2.6 trillion and 1.7 trillion yuan, respectively.
Posted on: Thu, 31 Jul 2014 09:06:46 +0000
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