China's tax revenues grew steadily in the first half of 2018, tax authorities said on Tuesday (17.7.2018).
The country collected a total of 8,2 trillion yuan (1,2 trillion U.S. dollars) in the first half, a figure that does not include export tax refunds, so the figure represents a year-on-year growth of 15,3 percent, according to the State Administration of Taxation.
Rising sectors
La industry and the sector services experienced year-on-year increases of 14,7 and 13,2 percent in the first half of the year, respectively, and have maintained double-digit growth for six quarters.
Emerging sectors followed the rapid expansion, as revenues in the subsectors of software and computer technology rose 29,3 percent year-on-year.
Tax revenue from the retail sector rose 20,5 percent year on year in the first half of the year, showing strong consumption momentum. The accommodation and catering sector also saw tax revenue rise 8,6 percent, according to the source.
PBI
Gross domestic product (GDP) grew by 6,8 percent year-on-year in the first half, compared with the annual target of 6,5 percent set by the Chinese government, according to data from the National Bureau of Statistics.
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