Now for a big number. 12.6 trillion yuan. That's how much the Taxation Administration said Thursday that China collected in tax revenues last year. The administration also said it will crack down on tax fraud in 2018 and more tax cuts are coming. Take a listen.

ZHENG XIAOYING, SENIOR OFFICIAL STATE ADMINISTRATION OF TAXATION "We have seen taxes growing rapidly in the service sector. Tax revenues from Internet-related services surged by half compared with the previous year, while that from software and IT increased 36 percent. High-end manufacturing also did well, machines, telecommunications devices and some special equipment all paid over 20 percent more."

The burgeoning service sector and value-added production pushed tax revenues up by 3.9 percent last year. Tax authorities said they also worked on creating a more equal business environment by clamping down on those with bad credit.

FU SHULIN, SENIOR OFFICIAL STATE ADMINISTRATION OF TAXATION "Last year we registered over four thousand illegal acts regarding tax payments, almost doubling what was reported in 2016. More than 40 thousand individuals involved in those cases met restrictions when it came to funding, purchasing, land supply and bond trading. More than 15 hundred requests to leave the country were also denied because of the same reason."