Tax revenue more than a third in Q1

China's tax revenue grew more than a third in Q1 this year, mainly due to strong growth in imports, securities trading and automobile purchases, the State Administration of Taxation said late on Wednesday.

Tax collection totaled RMB 1.51 trillion (US$216 billion) in Q1, up 33.8%. The tax increase thanked to the country's sustained economic growth despite the worst snowstorm in half a century and weaker external growth in the period.

China's economy rose 10.6% in Q1, the tax authority noted. It said that the increase in Q1 was ''the fastest first-quarter pace in recent years''. No more details about comparison data.

Domestic value-added tax, consumption tax and business tax amounted to RMB 754.1 billion, up 25.2% year-on-year, while corporate and individual income tax hit RMB 381.4 billion, up 34.5%, the bureau added.

The combined tax on imports and the cumulative securities stamp duty reached RMB 187.4 billion and RMB 59.7 billion in Q1, up 32.1 % and 387.8% respectively.

Moreover, a 15.8% rise in automobile sales in Q1 helped boost the tax revenue to RMB 25.9 billion, up 26.7%, it said.