Shanghai fiscal revenue climbs
By Joy Wang |
July 29, 2010, Thursday
|
Print Edition
Print Edition
SHANGHAI'S fiscal revenue growth picked up in the first half of this year due to the city's rapid economic recovery and a prosperous World Expo.
According to a panel report of the city's People's Congress, fiscal revenue in Shanghai rose 23.3 percent from a year earlier to 156.4 billion yuan (US$23 billion) through June. It compared with a 7.7 percent increase last year.
The city's fiscal expenditure jumped 40.5 percent on an annual basis to 145.8 billion yuan during the period. More money was spent on nurturing start-ups, commercializing high technology and improving the livelihoods of residents.
"Tax income from manufacturing companies has grown strongly since January after they recovered from the hardships caused by last year's economic ebb," the report said.
"The city's services sector also boomed due to the World Expo, which bolstered the retail and catering industries, as well as financial services.
Tax income from the city's manufacturing firms expanded 19.6 percent in the first half, up 21.3 percentage points compared with the pace in the same period of last year. Tax income from the services sector advanced 24.5 percent, 27.3 percentage points more than a year earlier.
According to a panel report of the city's People's Congress, fiscal revenue in Shanghai rose 23.3 percent from a year earlier to 156.4 billion yuan (US$23 billion) through June. It compared with a 7.7 percent increase last year.
The city's fiscal expenditure jumped 40.5 percent on an annual basis to 145.8 billion yuan during the period. More money was spent on nurturing start-ups, commercializing high technology and improving the livelihoods of residents.
"Tax income from manufacturing companies has grown strongly since January after they recovered from the hardships caused by last year's economic ebb," the report said.
"The city's services sector also boomed due to the World Expo, which bolstered the retail and catering industries, as well as financial services.
Tax income from the city's manufacturing firms expanded 19.6 percent in the first half, up 21.3 percentage points compared with the pace in the same period of last year. Tax income from the services sector advanced 24.5 percent, 27.3 percentage points more than a year earlier.
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