The Chinese State Administration of Taxation says it has received tax revenues of 1.01 trillion yuan (HK$946 billion) in the first eight months of this year which has shown the largest increase in many years, of 24.5%.
The government attributes the rise in revenue
to the state-owned businesses, in which a drive to increase efficiency has seen
accumulated profits rise by 14% for January to September generating
a total of 159 billion yuan mainly through value added tax and consumption
tax.
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