The Pudong New District, the boomtown in the port city of Shanghai, collected 10.2 billion yuan(US$1.2 billion) in tax revenue during the first half of this year, a record high and 31.65 percent up on the same period last year.
Local tax department officials said value-added tax and consumer tax increased by nearly 30 percent, while sales tax was up almost 50 percent and income tax rose 25 percent.
Tax revenue from overseas-funded, join-stock and private firms grew by 37 percent, 58.47 percent and 75 percent, respectively.
Nearly 600 foreign-funded firms in the district contributed to 5.9 billion yuan (US$719 million) in taxes.
Brisk sales on the housing market also resulted in 71 percent year-on-year growth in real estate tax revenue bringing it to 1.46 billion yuan (US$178 million).
Sales tax also rose by 33.6 percent to 2.57 billion yuan (US$313 million).
(Xinhua News Agency July 31, 2002)
