The General Administration of Customs issued a report on July 12 stating that in the first half of the year, a total of 489.59 billion yuan in customs taxes had been collected. This is 128.4 billion yuan more than the same period last year, an increase of 35.6 percent, according to Shanghai Securities News.
An analysis by the General Administration of Customs concludes a substantial increase in imports is the main reason for growth in customs revenue. In the first half of the year, the national economy maintained steady and rapid development; and continued growth in domestic demand stimulated the growth of imports. In the first half, China imported 567.57 billion U.S. dollars in goods, a growth of 30.6 percent. General trade imports as the main source of customs tax revenue reached 290.44 billion U.S. dollars, an increase of 48.7 percent.
Between 2003 and 2007, total customs tax reached 2.74235 trillion yuan, an average annual increase of 19.6 percent, 180 percent growth compared with that of the last five years.
By People's Daily Online
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