Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Customs revenue hits 688.3 bln yuan by Nov
Adjust font size:

China's customs revenue hit 688.35 billion yuan (about 93.02 U.S. dollars) by November 28 this year, fulfilling yearly target of 688 billion yuan more than a month earlier, according to customs sources.

 

The customs revenue of the entire year is expected to exceed 700 billion yuan, 100 billion more than last year's record high of 610 billion yuan (about 78 billion U.S. dollars).

 

The large-scale increase of customs revenue came from strong growth in consumption and exports supported by the country's fast growing economy, said a customs official.

 

Total imports rose 19.8 percent to 773.48 billion U.S. dollars in first ten months as domestic demands grew, providing a major tax source.

 

Revenue from import sector also rose upon the launch of a consumption tax on luxury goods, such as watches, golf balls and clubs, yachts and wooden floor panels in April last year.

 

The adjustment of tariff policies since the end of last year boosted the revenue from the exports, which jumped 26.5 percent to 985.84 billion U.S. dollars in the first ten months this year.

 

The government introduced a raft of measures ranging from export rebate cuts to export tariff increases for many exports especially those from the high polluting, and high energy- and resources-consuming sectors.

 

(Xinhua News Agency December 2, 2007)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Tax revenue up 30.8% in first 9 months
- China customs post 22% growth in revenues
- Fiscal revenue expected to top 5 trillion yuan
Most Viewed >>

Nov. 1-2 Tianjin World Shipping (China) Summit
Nov. 7-9 Guangzhou Recycling Metals International Forum
Nov. 27-28 Beijing China-EU Summit
Dec. 12-13 Beijing China-US Strategic Economic Dialogue

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?