Doha: China's tax authorities revealed on Wednesday that China's tax and fee cuts as well as tax refunds to support sci-tech innovation and manufacturing exceeded CNY 2.8 trillion (about USD 401.4 billion) in 2025.
According to Qatar News Agency, Head of the State Taxation Administration, Hu Jinglin, stated at a national taxation work conference that the incentives contributed significantly to the development of modern quality productive forces.
The country's total tax and fee revenue reached CNY 33.1 trillion in 2025 on the back of steady economic growth and other positive factors, according to data released at the conference. China's GDP grew 5 percent year on year in 2025, meeting the annual target.
In breakdown, the tax revenue, before deducting export tax rebates, rose 2.7 percent year on year to reach CNY 17.8 trillion. Social insurance premiums increased 5.6 percent from the previous year to CNY 9.1 trillion. The non-tax revenue totaled CNY 5.6 trillion.