In the first half of 2018, revenue in general public budgets nationwide totaled 10.43 trillion yuan, ($1.54 trillion) a year-on-year increase of 10.6 percent over last year (this includes 9.16 trillion yuan in tax revenue, up 14.4 percent in the corresponding period and 1.27 trillion yuan in non-tax revenue, a year-on-year decrease of 10.8 percent).

The realization of double-digit growth of government receipts reflects that China’s economy is holding steady. The ups and downs of taxes demonstrate the improvement of economic structure and the continual effort of cost reduction measures.

Lou Hong, the head of the Treasury Department of the Ministry of the Finance of China, anticipates that China will experience slower growth on fiscal revenue in the second half of the year. But in general, the operation will remain steady.