Economy

China's revenue to hit 8 trillion yuan in 2010

By Yan Weijue (chinadaily.com.cn)
Updated: 2010-06-29 10:50

China is expected to receive 8 trillion yuan ($1.18 trillion) in financial revenue by the end of 2010, State broadcaster CCTV reported on June 28.

If that happens, China will become the second-largest country in terms of revenue income, trailing only the United States.

The figure was first revealed by Economic Observer Newspaper, which says the nation's revenue in the first five months reached 3.55 trillion, 836.2 billion yuan more than the same period of the previous year, an increase of 30.8 percent.

Conservative estimates put revenue in the first half of the year at 4.3 trillion yuan, and 3.8 trillion in the second half.