Beijing reports double-digit rise in fiscal revenue
( 2003-10-19 10:35) (Xinhua)
The Chinese capital raked in
43.73 billion yuan (5.27 billion US dollars) in fiscal revenue in the first nine
months of the year, up 18.2 percent from the same period last year.
The city has collected 75.8 percent of its budget annual fiscal revenue,
Beijing Municipal Bureau of Finance announced.
An expert with the bureau attributed the recovery in the growth of the city's
fiscal revenue to the timely and strong support Beijing rendered to sectors that
were badly affected by severe acute respiratory syndrome (SARS). Due to the
negative impact of SARS, the growth of fiscal revenue in the capital slowed in
May and June.
Beijing exempted businesses badly hurt by SARS from taxes or granted grace
periods in payment, with the amount totaling 2.07 billion yuan (249 million US
dollars), which helped sectors such as tourism, catering and entertainment to
resume operating quickly, he said.
Beijing was one of the areas worst hit by SARS. The World Health Organization
issued an advisory against travel to Beijing on April 23, but lifted the warning
on June 24.
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