Local Revenue

 

July, 2011

In July, the local government revenues of the Municipality amount to RMB 37.28 billion, RMB 4.65 billion or 14.3% higher than the previous year, in which the Municipal-level revenues amounts to RMB 20.78 billion, RMB 3.14 billion or 17.8% up from the previous year. Among the major items, VAT increases by 8.4%, business tax increases by 15.9%, corporate income tax increases by 10.5%, and personal income tax increases by 28.2%. The total local government revenues of the Municipality from January to July amount to 239.4 billion, 26.6% higher than the previous year.

Owing to the Municipality's stable economic growth, the boom of the consumption and services market, the local government revenues from finance, service and commerce grows at a double digit rate. However, as the industrial enterprises' sales decrease and their production costs rise, the growth of local government revenues slows down further from the previous month.