China: Chinese Region Sets Target for Growth in Tobacco Taxes, Profits

Source from:  TobaccoChina Online  07/29/2013

The government of southwest China's Guangxi region signed on July 22 a liability agreement with Guangxi Regional Tobacco Monopoly Administration, China Tobacco Guangxi Industrial Co., Ltd. and the governments of all cities in the region to set the target of raising the annual amount of taxes and profits generated by the tobacco industry of Guangxi to a record high of 30 billion yuan (4.8 billion U.S. dollars) by the year 2015.

Over recent years, the tobacco industry of Guangxi has realized leap-forward development, with the annual amount of taxes and profits generated by it increasing to 18 billion yuan (2.9 billion U.S. dollars) in 2012 from the level of more than 6 billion yuan (960 million U.S. dollars) in 2006, thus making remarkable contribution to the development of the regional economy. Enditem