Local Revenue

 

February, 2011

In February, the local government revenues of the Municipality amount to RMB 28.4 billion, RMB 7.97 billion or 39% higher than the previous year, in which the Municipal-level revenues amounts to RMB 13.43 billion, RMB 3.74 billion or 38.6% up from the previous year. Among the major items, VAT increases by 17.8%, business tax increases by 12.6%, corporate income tax increases by 4.8%, personal income tax increases by 60.9%, and contract tax increases by 128%. The total local government revenues of the Municipality of January and February amount to RMB 81.11 billion, 40.6% higher than the previous year.

The local government revenues grow fast in February. 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.