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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Jan. 28 (Xinhua) — The volume of tax incentives aimed at supporting scientific and technological innovation and the manufacturing sector in China in 2025 has exceeded 2.8 trillion yuan (nearly 402 billion U.S. dollars), tax authorities said Wednesday.
These measures have provided a significant stimulus for the development of new-quality productive forces, said Hu Jinglin, head of the General Administration of Taxation of the People's Republic of China, at the All-China Working Conference on Tax Issues.
According to data presented at the meeting, total tax and fee revenue in 2025 will reach 33.1 trillion yuan, meeting the annual target.
Meanwhile, tax revenue, excluding export tax refunds, rose 2.7 percent year-on-year to 17.8 trillion yuan, while social security contributions increased 5.6 percent to 9.1 trillion yuan and non-tax revenue amounted to 5.6 trillion yuan. -0-
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