China’s fiscal income was 12.91 trillion yuan (US$2.13 trillion) in 2013, up 1.2 trillion yuan or 10.1 percent year on year, Beijing News reported Friday, citing data from the Ministry of Finance. The figure compares with a 12.7 trillion yuan target. Fiscal income grew 24.8 percent in 2011 and 12.8 percent in 2012. However, such growth may remain in single digits as tax revenue has peaked, Ni Hongjun, an analyst in the State Council’s Development Research Center, was quoted as saying. Taxes made up 11 trillion yuan of fiscal revenue in 2013, the report said.
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