|
|
Saturday, January 08, 2000, updated at 11:01(GMT+8) Business Shanghai's Customs Income Nearly Doubles Customs revenue for the city of Shanghai reached 34.5 billion yuan (about 4.14 billion US dollars) last year, 94.7 percent more than in 1998. This figure was 16.7 billion yuan higher than the central government's target customs revenue for the city for 1999, a record high, customs officials said today. Of the total revenue, 12.66 billion yuan was from imports, up 95.1 percent. Economists attributed the big increase mainly to the efforts to expand domestic demand and increase trade activities, as well as the stern campaign against smuggling. Shanghai, as a major trade and financial center, handles one-fifth of China's imports and exports. China reduced the rate of customs duty twice in 1997, and Shanghai's total customs income for the year 1998 was about 18.87 billion yuan affected by the Asian financial crisis. Printer-friendly Version In This SectionSearch Back to top Copyright by People's Daily Online, All rights reserved |
Relevant Stories Internet Links |