The Chinese mainland is projected to collect over 155 trillion yuan in tax and fee revenue during the 14th Five-Year Plan (2021–2025), accounting for roughly 80% of total government income, STA Commissioner Hu Jinglin announced at a Monday press conference. Tax cuts will remove 10.5 trillion yuan of burdens on businesses and individuals, aiming to fuel growth and innovation.
Breaking down the numbers, tax revenue alone is set to top 85 trillion yuan – an increase of 13 trillion yuan compared to the previous five-year cycle. Complementary income streams such as social insurance contributions and land transfer proceeds are expected to exceed 70 trillion yuan, highlighting the mainland's diversified fiscal engine.
For young entrepreneurs and tech enthusiasts, these figures signal a strengthened commitment to economic resilience. By reallocating resources through targeted tax cuts, the Chinese mainland is hoping to spur startup growth, support digital transformation, and attract overseas investors.
Thought leaders and changemakers will note the data-driven approach to fiscal policy: with 80% of government revenue linked to tax and fee collections, the focus will be on balancing broad-based support with sustainable development goals.
As the world watches, the Chinese mainland's strategy offers a case study in large-scale fiscal planning. What impact do you think these moves will have on global markets, travel, and digital innovation? Share your thoughts below.
Reference(s):
China's 2021-25 tax revenue to top 155 tln yuan, with 10.5 tln in cuts
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