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State Tax Revenue Increases by over RMB20 Billion
Update: 10/18/2007 12:13:00 PM Source: Wentrip

 

Statistics issued by the State Administration of Taxation's Guangzhou Office showed that RMB99,771 billion of state tax revenue had been collected between January and September of 2007, up by 25.07% (RMB20,002 billion), compared with the same period of last year.

The economy boasted sustained and rapid growth in 2007, which greatly stimulated investment and consumption. As a result, enterprises enjoyed increasing economic benefits. Between January and September, the investment in fixed assets increased by 8.8% and real estate investment increased by 28.6%. On the other hand, the total retail sales of consumer goods increased by 17.9% and the total profits for industrial enterprises above a designated size increased by 52%.

Due to the rapid economic growth, the state tax revenue from the three pivotal industries (auto making, electronics and petrochemical) as well as other major industries like telecommunications, real estate and financing totaled RMB30.19 billion (increasing by RMB12.72 billion), of which RMB10.9 billion was from auto manufacturing, 1.04 times of last year's tax revenue.



Editor: canton fair


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