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China reports steady growth in fiscal revenue

Apr 19 , 2018

China posted stable growth in its fiscal revenue in the first quarter of 2018, official data showed, adding to evidence of a solid economy.

The fiscal revenue rose 13.6 percent year on year to 5.05 trillion yuan (more than 800 billion U.S. dollars) in the January-March period, the Ministry of Finance (MOF) said at a press conference Wednesday.

MOF official Lou Hong attributed the increase mainly to strong tax revenue, as businesses saw better performance amid a solid economy in the first three months. Revenues rose 28 percent in consumption tax, 21.1 percent in commercial value added tax and 14.4 percent in import tax.


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