Local Revenue


January, 2011

In January, the local government revenues of the Municipality amount to RMB 52.72 billion, RMB 15.44 billion or 41.4% higher than the previous year, in which the Municipal-level revenues amount to RMB 25.3 billion, RMB 6.7 billion or 36% up from the previous year. Among the major items, VAT increases by 38%, business tax increases by 25.9%, corporate income tax increases by 38.1%, the personal income tax increases by 31.1%, and contract tax increases by 68%.

The local government revenues grow fast in January. Besides the city's stable economic growth and the boom of the consumption and services market, the fast growth is also owing to the fact that the State starts to levy the urban maintenance and construction tax and the education surcharges on foreign invested enterprises, and the city strengthens liquidation and check of taxes on real estate development projects.