Hey everyone, exciting news from the finance world! As part of the 14th Five-Year Plan (2021–2025), China's State Taxation Administration revealed that tax and fee revenue is projected to exceed 155 trillion yuan (around $21.6 trillion). That figure accounts for roughly 80% of the overall government revenue—pretty massive, right? 📊
Breaking it down further, pure tax revenue is expected to top 85 trillion yuan, a jump of 13 trillion yuan from the previous five-year period. Plus, other income streams like social insurance contributions and land transfer proceeds are anticipated to contribute over 70 trillion yuan in total. In simple terms, the numbers are huge, signaling a strong move to revamp fiscal strategies during this key development phase.
This fiscal overhaul under the 14th Five-Year Plan shows a clear commitment to building a sustainable future. While these big numbers might not affect your daily coffee run, they are reshaping economic policies that influence markets, tech innovations, and job opportunities across the region. 🚀
Whether you're into tech, lifestyle trends, or global shifts in policy, keep an eye on these reforms—they're a reminder of how dynamic and interconnected our global economy really is!
Reference(s):
China's 2021-25 tax revenue to top 155 tln yuan, with 10.5 tln in cuts
cgtn.com
