The Chinese tax authorities said China’s tax revenue rose by 20.4 pct year-on-year for the first nine months of the year. In a statement on its website it said tax revenue reached 2.32 trln for the first three quarters. That figure does not include customs tariffs and agricultural taxes. Year-on-year growth, standing at 17.8 pct for the first quarter, 22.9 pct for the second and 20.4 pct for the third, was in line with the country’s economic expansion, it said. The central government has set a fiscal deficit target of two pct of gross domestic product for this year compared with 2.7 pct in 2004. Read more about it in Forbes.

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