Customs revenue reaches new peak
1 February 2003
China's customs revenue reached a record high of Yn259.1bn in 2002, according to figures quoted by China Daily. The total is 3.9 per cent more than in 2001. Customs duties and import-related taxes fell by 7.5 per cent year-on-year in the first half of 2002, but later grew on the increases in general trade in the second half of the year. Revenue also increased as a result of enhanced measures on taxation and a crackdown on smuggling.
