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| Guangdong Leads China in Tax Revenue |
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South China's Guangdong Province has been atop China's league table for contributions to the national revenue for a 12th consecutive year. The province registered 345.06 billion yuan (US$44.23 billion) of state revenue in 2006, up 21 percent year-on-year. According to the provincial taxation authorities, Guangdong took 160.5 billion yuan (US$20.57 billion) in local tax revenue last year, 18.8 percent more than the previous year and keeping its top position in the country for 13 straight years. The provincial taxation authorities ascribed the marked growth in tax revenue to fast economic growth. The provincial added industrial output value topped one trillion yuan last year and its added value of the service sector also exceeded one trillion yuan. The province's GDP was 2.58 trillion yuan, a rise of 14 percent year-on-year. Industries such as electronics and telecommunications equipment, textiles, oil refining, power and building materials were major contributors to the tax revenue increase, according to the provincial taxation authorities. Sources with the provincial taxation bureau said last year, Guangdong collected 2.85 billion yuan of tax from the real estate sector, up a record 36 percent year-on-year. (Xinhua News Agency January 5, 2007) |
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