From January to April this year:
National personal income tax was 500.7 billion yuan, down 7% year-on-year
Domestic value-added tax was 2578.7 billion yuan, down 7.6% year-on-year
(The amount of consumption tax is small and not included, mainly related to tobacco, alcohol, oil, and automobiles)
What's going on? After half a year of stimulus, why haven't the macro economy and consumption been stimulated?
