China reports 21.7 percent rise in tax revenue

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Last updated at: (Beijing Time) Monday, October 20, 2003

China reports 21.7 percent rise in tax revenue

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China reaped tax revenue totaling over 1.5 trillion yuan (about 180 billion US dollars) in the first nine months of the year, excluding tariffs and agricultural tax, up 21.7 percent year-on-year, according to the State Administration of Taxation (SAT) Monday.

A SAT official said the high figure epitomizes a direct reflection of China's continuous economic development and improved macro-economic operation quality and business profits of its enterprises.

This was attributed to a rapid increase momentum rarely seen over recent years enjoyed by both investment and export, two major forces behind the country's economic progress, he noted.

Also, although the outbreak of severe acute respiratory syndrome (SARS) has inflicted losses on both China's second and tertiary industries to some extent, the entire economy has kept its backbone intact due to the substantial, efficient measures taken by the central government, the official said.

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