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Tax Revenue in Shanghai Grows 16 Percent
The total tax revenue of Shanghai, China's leading industrial and commercial center, reached 67.2 billion yuan (8.1 billion US dollars) in the first half of this year, according to the latest statistics.
This figure is 16.1 percent higher than that of the same period last year, up 9.34 billion yuan (1.1 billion US dollars).
Tax revenue from the industrial sector reached 17.85 billion yuan (2.15 billion US dollars), up 34.6 percent from the same period last year, as the sector reported an increase of 11 percent in the period, which is higher than the service sector for the first time in recent years.
Tax from overseas-funded enterprises hit 18.37 billion yuan (2.2 billion US dollars), up 38.9 percent, accounting for more than one quarter of the total. Individual income tax reached 4.57 billion yuan (551 million US dollars), up 40.9 percent, according to the statistics.
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