China’s tax revenue tops 10 trillion yuan in H1 as economy improves
Wire desk byline Sourced from Xinhua, Dawn, Arab News, Anadolu and Minute Mirror. Translated and abridged by the GSRRA Desk.
The State Council Information Office (SCIO) holds a press conference on tax reform and development in the 15th Five-Year Plan period (2026-2030) in Beijing, capital of China, July 28, 2026. (Xinhua/Zhang Xiaoyu)
China’s tax revenue rose 4.9 percent from a year earlier to more than 10 trillion yuan (about 1.47 trillion U.S. dollars) in the first half of 2026, supported by an improving economy and a recovery in factory-gate prices, tax authorities revealed Tuesday.
The figure, which excludes import value-added tax, consumption tax, customs duties and tonnage tax collected by customs authorities, was reported before export tax rebates were deducted.
The country’s total tax and fee revenue reached 16.7 trillion yuan in the January-June period, Hu Jinglin, head of the State Taxation Administration, told a press conference. During the same period, social insurance premiums stood at 4.5 trillion yuan, while the non-tax revenue came in at 1.8 trillion yuan.
Hu attributed the increase in tax revenue to steady economic performance, a continued recovery in the producer price index (PPI), which is closely linked to tax revenue, and strong momentum in emerging sectors and key industries. China’s gross domestic product (GDP) grew 4.7 percent year on year in the first half of 2026.
Tuesday’s data also showed that tax and fee reductions under preferential policies for pensions, healthcare, education, and employment rose 11.8 percent year on year during the period. About 126 million taxpayers claimed additional individual income tax deductions for expenses including elderly care, healthcare and education, up 5.9 percent from a year earlier.
Meanwhile, China’s occupational injury insurance pilot program for workers in new forms of employment was expanded nationwide on July 1 and has so far benefited a cumulative 29.1 million people, according to the tax administration.
Reference Link:- https://english.news.cn/20260728/3473e47b7367475599f7e379a3f1aba9/c.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
