Hey everyone! Exciting news from the Chinese mainland: recent tax data shows truly impressive economic strides during the 14th Five-Year Plan (2021-2025). The State Taxation Administration revealed that total tax revenue is set to top 85 trillion yuan—an increase of 13 trillion yuan over the previous five years. 🚀
Even more eye-catching is the growth in tax-paying business entities, which have soared past 100 million by the end of June. That means a net increase of 30 million since 2020, a clear sign of strong market dynamism and resilience.
The surge isn’t just about numbers—the smart tax and fee reduction policies are making a real difference. From saving businesses a cumulative 10.5 trillion yuan to boosting sectors like technological innovation and advanced manufacturing with 3.6 trillion yuan in cuts, these measures are fueling high-quality growth. The private sector, including countless self-employed households, benefited from 7.2 trillion yuan in cuts, while small and medium-sized enterprises enjoyed 6.3 trillion yuan in relief. 🔥
High-tech industries are on fire too, with an average annual sales revenue growth of 13.9 percent. And let’s not forget the green transition: clean energy power generation from wind, solar, and hydropower recorded a robust 13.1 percent growth between 2021 and 2024.
Openness to the world is another highlight. The number of foreign-invested tax-paying enterprises increased by 12.7 percent, contributing profits of over 630 billion yuan. Plus, tourism is booming—tax refund stores serving global visitors have risen to more than 7,200, with tourist claims surging by 186 percent in the first half of 2025!
On the international stage, the Chinese mainland is making its mark in global taxation governance, expanding its tax treaty network to 114 countries and regions. This dynamic mix of robust policies and global engagement is paving the way for a sustainable, high-quality economic future.
Stay tuned for more updates as these bold initiatives continue to shape a vibrant economic landscape. Let’s celebrate these achievements and look forward to even greater milestones ahead! 🎉
Reference(s):
China's tax data offers snapshot of economic achievements in 2021-2025
cgtn.com
