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Overseas Businesses Major Contributors of Guangdong Revenue
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THU, FEB 21, 2002
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Local taxation officers in south China's Guangdong Province levied 14.11 billion yuan (1.7 billion U.S. dollars) 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 (9.53 billion U.S. dollars) 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.
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