Tax revenue of private enterprises totals 770.56 b
(Xinhua)
Updated: 2006-03-15 14:15

The total tax revenue from China's domestic private enterprises in the past five years reached 770.56 billion yuan (96.3 billion U.S. dollars), reports the State Administration of Taxation.

According to statistics released by the administration on Monday, the total tax revenue is nearly eight times that of the previous five-year period between 1996 and 2000.

The administration said in the past five years, the tax revenue of private enterprises realized a record annual growth rate of 45.3 percent, with its share among the national total tax revenue increasing from 2.2 percent during the 1996-2000 period to 7.1 percent.

The tax revenue of China's state-owned enterprises only increased 6.9 percent to about 3.1 trillion yuan (387.5 billion dollars) in the past five years, with its share of the national total dropping from 52.3 percent to 28.3 percent.

Officials said the change resulted from China's economic structure reform through which a number of state-owned enterprises were changed into joint-stock or joint-venture companies.

But the administration acknowledged that the public sector is still in a dominant position in China's economic structure, with its total tax revenue in the past five years amounting to 1.32 trillion yuan (165.4 billion dollars), 43.7 percent of the national total.

The public sector includes the country's state-owned firms, collective enterprises, all state-holding enterprises in cooperative enterprises, joint-stock enterprises and joint ventures.