Guangdong Leads Nation in Tax Revenue

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Last updated at: (Beijing Time) Friday, January 03, 2003

Guangdong Leads Nation in Tax Revenue

South China's Guangdong Province collected 92.58 billion yuan (about 11.16 billion US dollars) in local taxes in 2002, said sources from the Guangdong Provincial Bureau of Local Taxation.

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South China's Guangdong Province collected 92.58 billion yuan (about 11.16 billion US dollars) in local taxes in 2002, said sources from the Guangdong Provincial Bureau of Local Taxation.

The figure is an increase of 17.1 percent from the same period in 2001. Guangdong has led the country in provincial tax revenue for the last eight years, said the sources.

In the meantime, Guangdong collected 166.53 billion yuan (about 20.06 billion US dollars) in central government taxes last year, up 16 percent year-on-year, said sources from the Guangdong Provincial Bureau of State Taxation.

Guangdong, designated by the government to lead China's reform and opening-up drive, is a leading export-processing base in the country and has become one of the country's economic power houses.

The local economy continued its rapid growth over the past year.In the first 11 months of the year, Guangdong recorded 1.05 trillion yuan (about 126.19 billion US dollars) in gross domestic product (GDP), up 10.7 percent year-on-year.

Guangdong officials noted that the strong provincial economic growth generated an increase of 7.25 billion yuan (about 874 million US dollars) in provincial taxes.

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