Local Revenue



In Q1, 2012, the local government revenues of Shanghai Municipality amount to RMB 110.37 billion, 6.7% up in annual terms, which account for 29.8% of the goal of revenue for 2012.

In Q1, 2012, Shanghai Municipality enjoyed steady and sustained economic growth. Its modern services continue to boom, the consumption structure further improves, and local government revenues shows steady growth. Among the major taxes, VAT, business tax and corporate income tax contribute over 70% of the local fiscal revenue increase, and in terms of industrial development, commerce and other services have reported strong growth rates.