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China's Non-tax Income Maintains Rapid Growth

CHINA PRESS
MNI (Singapore)

China’s general public budget revenue fell by 2.8% y/y to reach CNY9.7 trillion in the first five months, with tax revenue falling by 5.1% but non-tax revenue rising by 10.3%, Securities Times reported. This was linked to penalty and confiscatory income alongside revenue from the use of state-owned assets, the Times said, citing Li Xiaorong, vice dean at the School of Finance and Taxation, Central University of Finance and Economics. The national general public budget expenditure also rose by 3.4% to reach CNY10.8 trillion, a faster pace than in recent years, the newspaper said.

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