China’s fiscal income is set to grow at least 25% this year, Jia Kangri, president of the Fiscal Science Institute under the Ministry of Finance told the China Securities Journal. An additional US$135.08 billion (RMB1 trillion) to US$162.20 billion (RMB1.2 trillion) is expected to be taken in, he said. China’s total fiscal income last year was US$532.21 billion (RMB3.94 trillion). Jia credited the vast increase to tax changes and the tripling of stamp duties on China's booming stock market in late May from 0.1% to 0.3%.
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