Beijing’s tax revenue reached US$185 billion in 2016

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Beijing’s tax revenue reached 1,284.46 billion yuan (about US$185.67 billion) in 2016, registering an increase of 6.2 percent year-on-year.

Public budget reached 477.07 billion yuan, a year-on-year increase of 7.1 percent.

High-tech and sophisticated industries, such as the financial industry, science and technology industry, commercial industry and information technology industry, contributed half of the revenue, while the tax revenue of manufacturing industries such as oil processing and textile and garment decreased by 23.2 percent.

Industries that contributed to the city’s economic structural shift and citizens’ well-being, including high-tech industry, small- and micro-businesses and industries that save energy and reduce consumption, had tax cuts worth 76.8 billion yuan from January to November last year.

The city’s value added tax reached 253.08 billion yuan. Four major industries, namely, the financial industry, manufacturing, real estate, and wholesale and retail industry contributed 53.5 billion yuan. Corporate income tax reached 645.58 billion yuan, individual income tax was 142.98 billion yuan, and property tax and other related tax reached 98.49 billion yuan.

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