Provincial Tobacco Industry Generates Higher Taxes, Profits in 2007

Source from:  Jilin Daily newspaper 02/15/2008

The tobacco industry of northeast China's Jilin Province generated a record 1.645 billion yuan (225 million U.S. dollars) in taxes and profits in 2007, an increase of 102.53 percent over 2004, with the amount of profits alone reaching 1.273 billion yuan (174.3 million U.S. dollars), up 104.07 percent over 2004, according to data released at a working conference on the development of the tobacco industry of Jilin held in the provincial capital city of Changchun on January 27. The meeting was intended to sum up the development of provincial tobacco industry in 2007 and unveil develop tasks for 2008. Over the past three years, the tobacco industry of Jilin has been carrying out a new development strategy designed to strengthen its management, improve the distribution of its resources, promote its development in a faithful way, with digital technology and with a corporate culture, shift its functions and deepen its reform, achieving great successes in all aspects. In the three-year period, the provincial tobacco industry extended free investment totaling 107 million yuan (14.65 million U.S. dollars) to tobacco-growing zones in the province, which is used for infrastructure facilities construction, improving the production conditions for tobacco growers and increasing the income of farm. Enditem