Rising tax revenues highlight overall improved economic outlook

China saw faster growth of tax revenue in the first quarter of this year, reflecting the stable and improving momentum of the overall economy, data from the top tax authority showed on Thursday.

The nation collected 3.33 trillion yuan ($480 billion) in taxes in the quarter, up 11.8 percent year-on-year, according to the State Administration of Taxation. The growth rate was faster than the 9.8 percent rise in tax revenue in the same period of last year.

"The tax growth in the first quarter coincided with the positive economic performance shown by key indicators including the recent strong PPI (producer price index) growth," Zheng Xiaoying, a senior official of the SAT, said at a news conference.