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Beijing's Revenue Rising by Big Margins
Beijing's revenue registered an average annual increase rate of more than 22 percent in the past five years, according to the on-going 4th Session of the 11th Beijing Municipal People's Congress.
Addressing the meeting Sunday, Wu Shixiong, director of the city's finance bureau, said that the total revenue for the 1996-2000 period was 118.2 billion yuan (US$14.24 billion), 40 billion yuan (US$4.8 billion) more than the planned quota.
Beijing's revenue for 2000 was 34.24 billion yuan (US$4.12 billion), up 22.7 from 1999.
Wu said that financial expenditure during the past five years exceeded 150 billion yuan (US$18.07 billion), representing an annual increase of 23 percent on average.
According to Wu, Beijing's revenue for 2001 is expected to reach 37.6 billion yuan (US$4.53 billion), up 10 percent from 2000.
City mayor Liu Qi said that the city's gross domestic product is expected to increase by nine percent, and disposable income for urban and rural residents to rise by more than five percent.
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