According to experts, the rapid rise in the finance and insurance sectors, construction and real estate contributed most to the revenue growth.

Income from the insurance and financial sector increased 53 percent in 2007, real estate sales increased 32.3 percent, while fixed assets investment in urban areas saw a yearly increase of 25.8 percent, according to the figures.

Individual income tax increased greatly amid growing personal income in 2007. It stood at 318.6 billion yuan, a rise of 29.8 percent year on year.

Custom duties and import tariffs reached 758.5 billion yuan, an increase of 24.25 percent. They accounted for 16.6 percent of the total fiscal revenue.

(Xinhua News Agency March 6, 2008)