China's total tax revenue exceeds 156 trillion yuan during 2021-25 period

China's total tax and fee revenue surpassed 156 trillion yuan (about 22.4 trillion U.S. dollars) during the 14th Five-Year Plan period (2021-2025), accounting for about 80 percent of the country's annual fiscal revenue, the State Taxation Administration (STA) said Wednesday.

During the same period, newly implemented tax and fee cuts amounted to more than 10 trillion yuan (about 1.44 trillion U.S. dollars), providing strong support for the growth and expansion of businesses, according to the STA.

China's total tax revenue exceeds 156 trillion yuan during 2021-25 period

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 16 pips to 6.9771 against the U.S. dollar Thursday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese yuan weakens to 6.9771 against USD Thursday