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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