Beijing registered a financial revenue of 126.8 billion yuan in 2001, an increase of 29.6 percent over the year before. Of which local revenue came to 45.42 billion yuan, fulfilling 120.6 percent of the whole year's budgetary task, a year-on-year rise of 31.6 percent. This meant that Beijing's local financial revenue had grown at a rate over 20 percent for seven straight years.
The sustained, rapid growth of the city's revenue benefits from its strategy for economic development, a reasonable pattern featuring "tertiary industry, secondary industry and primary industry" has taken shape, thus keeping a high-growth, high efficiency momentum.
From January to November 2001, profits gained from industry increased by 7.4 percent compared with the same period of the preceding year, the composite index of economic returns rose by 5.4 percent.
Monthly economic growth rate stayed at 11 percent, showing a tangibly enhanced stability; high and new technology industry, as an important pillar economic sector of the capital, earned profits of 5.7 billion yuan, exported goods worth US$1.82 billion, accounting for 58.7 percent of the city's aggregate industrial exports, demonstrating the prominent features and achievements of the structural readjustment of industry.
In 2001, with 14,000 additional private companies, the city scored an increase of 760 million yuan in local tax revenue that brought about a growth in personal income tax from high-income earners.
Per-capita net income of farmers topped 5,000 yuan, urban residents' actual disposable income rose 8 percent, all these have greatly pushed the city's consumption.
Tax authorities at various levels in the city have constantly strengthened taxation inspection, major tax fraud cases were investigated and dealt with.
In the first three quarters of 2001, some 680 million yuan worth of local tax income was checked, made up and put into the treasury, thus effectively curbing tax evasion and fraud.
In addition, the introduction of a system of sharing tax revenues between Beijing Municipality and its districts (counties) has fired the enthusiasm of the two-level government of Beijing and its district (county) for developing economy and increasing income, making it an important motivation for boosting a rapid growth of financial revenues.
( January 14, 2002)
