Shanghai Reports Double-Digit Tariff Growth

Home>>Business

Last updated at: (Beijing Time) Sunday, January 06, 2002

Shanghai Reports Double-Digit Tariff Growth

The customs bureau of this eastChina metropolis earned 58.96 billion yuan (about 7.1 billion U.S.dollars) in tariffs last year, up 21.1 percent over the same period in 2000.

The customs bureau of this eastChina metropolis earned 58.96 billion yuan (about 7.1 billion U.S.dollars) in tariffs last year, up 21.1 percent over the same period in 2000.

This figure accounts for about one quarter of the national total.

Of Shanghai's tariffs, those levied on imports and exports madeup 21.42 billion yuan (about 2.58 billion U.S. dollars), and value-added import taxes and consumption taxes came to 37.54 billion yuan (about 4.52 billion U.S. dollars).

Lu Peijun, director of the Shanghai Customs Bureau, said that he was quite encouraged by last year's achievement, but warned that the levying of tariffs will face unprecedented challenges in the new situation, including China's entry into the World Trade Organization, which will involve lower tariff rates.

He pledged that the Shanghai customs would work harder to improve its work regarding tariffs.

Tariff Lifting Policy Aimed at Boosting Diamond Trade