Big numbers are dropping on the scene for the Chinese mainland during the 14th Five-Year Plan (2021–2025)! Over the next five years, tax and fee revenue is set to exceed an eye-popping 155 trillion yuan, representing about 80% of the government's total income. 🚀
One major highlight: tax revenue alone is projected to soar past 85 trillion yuan—up 13 trillion compared to the previous period. Meanwhile, essential income streams like social insurance contributions and land transfer proceeds are anticipated to add up to over 70 trillion yuan.
Adding to the mix, strategic fiscal adjustments include targeted cuts of 10.5 trillion yuan designed to streamline policies and boost economic resilience. This bold fiscal blueprint is all about modernizing revenue management while fueling dynamic growth in the Chinese mainland.
For young professionals, students, and curious minds alike, these figures highlight just how transformative fiscal reforms can be—not only for the local economy but also for global market trends. Stay tuned as we keep an eye on how these reforms shape the future!
Reference(s):
China's 2021-25 tax revenue to top 155 tln yuan, with 10.5 tln in cuts
cgtn.com
