China's National Taxation Administration said tax and fee receipts totaled 16.7
trillion yuan in 1H; tax revenue exceeded 10 trillion yuan, up 4.9% YoY. The
administration cited broadly improving economic activity, a continued rebound in
the PPI and strong growth in some emerging sectors and key industries; social
insurance contributions were 4.5 trillion yuan and non-tax revenue 1.8 trillion
yuan, supporting state fiscal capacity.