China's tax revenue, a major source of the government's fiscal income, grew 9 percent year on year in the first three quarters, the Ministry of Finance (MOF) announced on October 21.

During the January-September period, the government collected tax revenue totaling 8.44 trillion yuan ($1.38 trillion). The growth was 0.4 percentage points higher than the rate seen in the same period last year.

The MOF attributed the steady growth to a low comparison base, improving economic strength, as well as the booming property market that has lifted related tax incomes.

The revenue from domestic value-added tax (VAT), a type of tax levied on the difference between a commodity's retail price and production cost, increased 8.2 percent to 2.08 trillion yuan ($341.1 billion), thanks in part to the VAT reform.

Consumption tax revenues saw slower growth in the first nine months, gaining merely 3.8 percent year on year due to a sluggish tobacco and alcohol market, said the MOF.

Turnover tax revenues grew 10.9 percent, while growth for corporate and personal income tax moved up 14.3 percent and 10.8 percent, respectively. Notably, turnover and deed taxes in the property sector surged 37.4 percent and 40.4 percent, respectively, on the back of robust transactions.