[Tax revenue in the first eight months basically matches economic growth] On September 20, tax data showed that in the first eight months of this year, the tax revenue collected by the tax department (excluding import value-added tax, consumption tax and tariff, ship tonnage tax collected by the customs, and export tax rebates were not deducted) increased by 5.9% year-on-year, which was slightly higher than the 5.4% GDP growth rate in the first half of the year, which was slightly higher than 0.5 percentage points. Huang Lixin, director of the Taxation Science Institute of the State Administration of Taxation, believes that tax revenue growth this year has generally matched economic growth based on current prices. There are three main factors that make tax growth slightly faster than GDP growth. One is the price increase factor. PPI, which is highly related to tax revenue, turned positive in March this year, ending 41 months of negative growth. Subsequently, the growth rate generally increased, with a cumulative increase of 2% in the first eight months, driving the rapid growth of tax revenue calculated at current prices. The second is capital market factors. Capital market transactions drive the growth of stamp taxes on securities transactions, corporate income tax, personal income tax, and domestic value-added tax. The third is policy adjustment factors. The "Value-Added Tax Law of the People's Republic of China" and its implementation regulations have been officially implemented since January 1 this year, and some tax policies have been adjusted accordingly. At the same time, the state has also regulated some tax preferences that are not in line with high-quality development and are not in line with the current situation, resulting in an increase in tax revenue, but policy adjustments will not directly bring about GDP growth.