China hits 33.1t yuan in tax revenue, achieves 2025 target

China's top tax authority said on Wednesday that a total of 33.1 trillion yuan ($4.6 trillion) in taxes and fees were collected in 2025, meeting the government's annual revenue target.

The State Taxation Administration highlighted that key tax relief measures, aimed at backing technological innovation and the manufacturing sector, resulted in more than 2.8 trillion yuan in tax cuts, fee reductions and refunds last year.

From 2021 to 2025, more than 156 trillion yuan in taxes and fees were collected, accounting for about 80 percent of total fiscal revenue, the administration said.

In addition, the newly-added tax and fee reductions and refunds during this period exceeded 10 trillion yuan, it added.