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Last updated at: (Beijing Time) Thursday, September 05, 2002

China's Customs Revenue to Drop to US$29 Bn This Year

Total Chinese customs revenue is expected to drop marginally to around 240 billion yuan (28.99 billion U.S. dollars) this year, according to official forecasts.


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Total Chinese customs revenue is expected to drop marginally to around 240 billion yuan (28.99 billion U.S. dollars) this year, according to official forecasts.

Deputy Director Sheng Guangzu of the General Administration of Customs (GAC) said here Thursday that customs revenue totaled 160.8 billion yuan (19.4 billion US dollars) in the first eight months, a year-on-year decrease of 3.3 percent.

Sheng attributed the fall mainly to the considerable tariff rate cuts after China's accession to the World Trade Organization.

"This demonstrates China's active implementation of WTO-related concessions, as well as the contribution China has made to the common development of the world economy," he said.

Thanks to a continued crackdown on smuggling and the mounting awareness of duty payments among enterprises, China had witnessed a considerable growth of tarriff-source goods, he said.

According to the GAC, China's customs dealt with 6,315 cases of smuggling during the January-July period, a fall of 12.24 percent year-on-year.

In 2001, China's customs revenue totaled 249.23 billion yuan (30 billion US dollars), an increase of 11.17 percent over the figure for 2000.


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