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Tax Revenue Exceeds Record 1.7 Trillion Yuan in 2002
China's total tax revenue in 2002 reached an unprecedented 1.7004 trillion yuan (about US$205.57 billion), up 183.2 billion yuan or 12.2 percent over the previous year, according to Jin Renqing, Commissioner of the State Administration of Taxation.

Speaking at a press conference here Tuesday morning, Jin said the 2002 ratio of tax revenue to GDP continued increasing to reach 16.7 percent, growing by nearly one percentage point over the previous year.

Both the central and local revenues increased in a steady and coordinated manner, Jin said. The central-level revenue amounted to 1.0393 trillion yuan, up 12.3 percent from the previous year, while local-level revenue stood at 661.1 billion yuan, up 11.7 percent.

Turnover tax was the main contributor to revenue growth, he said. The domestic value-added tax, domestic consumption tax and business tax generated 978.9 billion yuan, up 132 billion yuan, or15.6 percent, accounting for 72 percent of the total volume of revenue growth.

Jin said that as a strong support for the development of foreign trade, tax rebates in 2002 totaled 125.9 billion yuan, growing by 17.1 percent.

(Xinhua News Agency January 14, 2003)

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