The rapid growth of government revenue poses a potential risk and the readjustment of economic structure is necessary, China Business News reported.   Statistics from State Administration of Taxation showed that circulation tax and income tax composed the main portion of the government revenue in the first half; consumption tax, commercial tax and value added tax totaled 9.917 billion yuan; business tax from foreign investment and enterprises, national enterprises and individual totaled 5.465 billion yuan.   Professor Yue Shumin of the School of Finance at China Normal University, explained that the growth of income tax revenue is a result of business and economic expansion. The rapid growth of fixed asset investment also contributes to the growth of value added tax revenue.   Chief of the Institute of Financial Research at the Central University of Finance and Economics, Wang Yongjun, urged for reason to treat the growth of government revenue. Emphasis should be placed on whether such growth is contributed to by short-term or long-term factors. For example, property tax revenue would be considerably decreased with tightened macro controls over the real estate sector.   Wang added that the rapid growth of government financial revenue also brings in some worries because it exposes the imbalanced economic development in China.   The government’s financial revenue has tripled since 2000. The first half saw an increase of more than 3.6 billion yuan.   The State Development and Reform Commission stated earlier this week that the overheating economy sharpens and intensifies many existing social contradictions.   “The government still has high risk in credit management, loan repayment and the cost of financial reform. An aging population and social issues, as well as medical securities, also create financial burdens,” said Wang.   The 2006 government finance forecast shows that the government has expanded expenditure on agriculture, education, employment, social security and public hygiene, all of which require long-term investment.   Wang pointed out that while government expenditure has to become more reasonably structured, the remaining revenues should be used to establish a reserve fund for emergency use in the future.