Personal income tax keeps exceeding the growth rate of residents’ income—which industries and groups contribute the most?

**　　【Caixin Net】** From the fourth quarter of 2024 to now, China’s personal income tax has been growing relatively quickly, noticeably faster than overall tax revenue growth, while in the same period residents’ per capita disposable income growth has been relatively steady. Why does there seem to be a certain temperature difference between the two?

This round of faster growth in personal income tax began in October 2024. In that month, the tax size turned from decline to increase, growing 5.6% year-on-year. However, because personal income tax continued to decline in the first half of 2024, the full-year personal income tax for 2024 still recorded a slight year-on-year decrease of 1.7%. In 2025, personal income tax achieved year-on-year growth of 11.5%. This momentum continued into 2026, and from January to May, the cumulative personal income tax reached 764.39B yuan, up 12% year-on-year.