China: Provincial Corporation Reports Growth in Cigarette Production, Profit-Making

Source from:  TobaccoChina Online 02/21/2011

Jiangsu Provincial China Tobacco Industry Corporation - the operator of the tobacco industry of east China's Jiangsu Province - released a package of data at its annual work conference held in the provincial capital city of Nanjing on February 15, reporting growth in cigarette production and sales, profit making and tax payment in the year 2010. In 2010, Jiangsu Provincial China Tobacco Industry Corporation produced and sold more than 95 billion cigarettes (1.9 million cases), up 4 percent year-on-year, and generated 29.5 billion yuan (4.4 billion U.S. dollars) in taxes and profits, up 19 percent year-on-year, with the amount of profits alone reaching 6.4 billion yuan (955 million U.S. dollars), up 11 percent year-on-year. As a result, Jiangsu Provincial China Tobacco Industry Corporation ranked the 12th among the provincial-level China Tobacco Industry Corporations in terms of annual cigarette output and sales volume, and the fourth in terms of the annual amount of profits and taxes in the year, the data showed. In the year, Jiangsu Provincial China Tobacco Industry Corporation saw its leading competitive cigarette brands of Suyan and Nanjing become more influential in the year, and its future business development capacity further enhanced, according to the meeting. Deputy Governor Shi Heping of Jiangsu Province attended the meeting and delivered a keynote address. Enditem