China's tax revenue grows by 8.7%

BEIJING – China’s tax revenue growth accelerated in 2017, official data shows.

China collected taxes worth 12.6 trillion yuan ($2 trillion) last year, up 8.7 per cent year-on- year, compared with 4.8 per cent growth in 2016, according to the country’s top taxation authority.

The tertiary sector continued to be the biggest tax contributor, with its tax revenue rising 9.9 per cent year on year and accounting for 56.1 per cent of total taxation.

The internet and related services industry saw its tax revenue surge 55.1 percent year on year.