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Tax Revenue from Overseas-funded Firms Surges in Shenzhen
The tax revenue from overseas- funded companies and overseas taxpayers in Shenzhen, this south China boomtown reached 1.88 billion yuan during the first four months of this year, up 25.8 percent on an annual basis.
Income tax collected from enterprises with overseas capital took the lion's share to account for 777 million yuan, according to local taxation officials.
The rapid growth was mainly registered in the sectors of telecommunications, real estate, transport and medicine.
Statistics show that more than 100 multinationals have invested in Shenzhen, which sees Hong Kong across a river, including nearly 30 of the world's top 500 companies.
Since the beginning of this year, overseas investment has maintained a rapid flow into the city, which actually used 1.2 billion U.S. dollars of foreign capital in January-May, up 15.4 percent from a year earlier.
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