ABSTRACT
In China, more than 20 percent or even 30 percent revenue growth has been maintained for many years, and people have become accustomed to apportioning the "surplus" income and improvement of benefits every year. This chapter looks at the perspective of financial revenue and expenditure and places it in the background of the new normal of economic development. After more than 30 years of reform and opening-up policy, China's economy has entered the new normal of development. The high-speed and even ultra-high speed growth phenomenon of China's fiscal revenue continued for many years after 1994. The main body of China's financial revenue is tax revenue. Under China's current tax system, more than 70 percent of the tax revenue is from value-added tax, business tax, consumption tax and other indirect taxes. The pattern of tax revenue "leaning to indirect tax" means that most tax revenues in China should be included in the price as elements of the price.
