China’s fiscal revenue surged over 40% on year in March due to low comparison base, economic recovery

 

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China’s fiscal revenues surged in the first quarter of 2021, driven by the economic recovery from the impacts of the COVID-19 pandemic and the low comparison base last year.

China's total revenue surged 42.4 per cent year over year in March, accelerating by 23.7 percentage points from the first two months of the year, according to data released by the Ministry of Finance. In breakdown, tax revenue grew 48.4 per cent and non-tax revenue increased 26 per cent.

The rapid growth was partly driven by the low comparison . . .

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