Shenzhen Expects Higher Revenue in Coming Five Years

Shenzhen, a special economic zone in south China's Guangdong Province, expects a 10.81 percent annual increase in local revenue in the coming five years, according to local taxation officials.

The annual figure will rise to 25 billion yuan (US$3.01 billion) in 2005 from the 15.1 billion yuan (US$1.82 billion) in 2000, the officials predict.

Shenzhen needs 200 billion yuan (US$24.09 billion) in financial funds to realize its goal of basically realizing modernization in the 2001-2005 period.

The Shenzhen local taxation administration collected 57.92 billion yuan in the 1996-2000 period, 1.6 times the figure for the previous five years.

People's Daily Online --- http://english.peopledaily.com.cn/