Local taxation officers in south China's Guangdong Province levied 14.11 billion yuan (US$1.7 billion) in taxes on overseas-financed businesses last year, up 36.14 percent over 2000.
Wu Shengwen, head of the Guangdong Provincial Tax Administration, said that among overseas-financed businesses, key tax payers include manufacturing enterprises, real estate development businesses and service companies. According to Wu, the local tax revenue hit 79.06 billion yuan (US$9.53 billion) last year, up 31.7 percent from 2000 and accounting for one sixth of the national total of local tax revenue.
Designated as pilot area for China's reform and opening-up drive, Guangdong has grown into one of the country's key export-oriented bases, and is now home to more than 80,000 overseas-financed businesses.
(moftec.gov.cn February 22, 2002)
