Despite tariff cuts after China's entry to the World Trade Organization (WTO), the country's revenue from customs duties and import-related taxes reached a record high 259.06 billion yuan (US$31.29 billion) last year, according to statistics from the General Administration of Customs (GAC).
That represents an increase of 3.94 percent, or 9.83 billion yuan (US$1.19 billion), over last year and is 19.06 billion yuan (US$2.30 billion) more than the budget plan made early last year.
The increase signifies Chinese customs' periodical success in confronting the challenges of China's WTO accession, said Mou Xinsheng, GAC director-general.
Many countries saw their customs duties and import-related taxes fall soon after WTO entry due to tariff cuts, although growth in foreign trade would boost domestic tax incomes and total fiscal revenues.
After three years of big consecutive increases, China's customs duties and import-related taxes fell 7.52 percent, or 9.23 billion yuan (US$1.11 billion), year-on-year in the first half of 2002.
Mou said customs revenues were able to turn around the big losses largely on the strength of increases in China's imports and especially general trade, a major target of customs duties and import-related taxes, in the second half of the year.
Customs statistics show China's imports soared 20.5 percent year-on-year in the January to November period and imports in the form of general trade rose 12.7 percent.
Customs duties and import-related taxes also increased as a result of enhanced measures on taxation and a crackdown on smuggling, said Mou.
(China Daily January 3, 2002)
