Tax revenues rise to record levels

Central government tax revenues between January and March 2003 totalled Yn436bn, 27 per cent higher than in the corresponding period last year. The State Administration of Taxes attributed the rise to increases in industrial profits and retail sales. However, analysts quoted by South China Morning Post commented that the figures showed that the clampdown on tax evasion by the wealthy ordered by former Premier Zhu Rongji last year has been successful in persuading many of China's newly rich to pay taxes.