Chinese customs see rapid growth in tariffs
( 2003-08-05 09:56) (Xinhua)
The Chinese customs collected duties totaling 208.5 billion yuan (US$25.4b)
in the first seven months of this year, up 52.38 per cent year-on-year,
according to the General Administration of Customs.
The figure represents 80.5 per cent of the tariff collection target set for
the whole year.
In July, the administration reported a monthly record of 33.8 billion yuan
(US$4.1b) in net overall tariffs to the public purse, up 45.87 per cent on a
yearly basis.
Experts attributed the increase to the country's rapid and healthy economic
development in the first half of this year, whichs timulated imports.
The five major contributors of import duties were machinery and electronic
products, automobiles and parts, crude and refined oil, steel, and organic
chemicals.
The administration's continued crackdown on smuggling facilitated the rapid
growth of tariff revenue.
The customs collected 967 million yuan (US$117m) worth of fines and
confiscated goods in the seven months, up 2.44 per cent.
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