Tax revenue increased in every region in China in January, according to the newspaper, citing China's State Taxation Bureau.
Tax reform is a crucial plank in China's economic reform platform.
State-owned enterprise reform and financial sector reform are the other two major economic reform initiatives. However, in order to finance the costly conversion of the state sector and to re-capitalize the country's ailing banks, China's economic policymakers realize that tax reform aimed at boosting revenues is vital to all of the reforms' success. The collection of VAT and consumption taxes from China's major industrial sectors all increased in January. Online 1998 .