In July, the local government revenues of the Municipality amount to RMB 32.63 billion, RMB 3.4 billion or 11.6% higher than the previous year, in which the Municipal-level revenues amount to RMB 17.34 billion, RMB 2.04 billion or 13.3% up from the previous year. Among the major revenue items, VAT decreases by 2.4%, business tax increases by 2.1%, corporate income tax rises by 34.4%, personal income tax is up by 7.8% and contract tax is down by 28.6%.

The local government revenues of the Municipality enjoy a fast growth in H1 2010 owing to the fact that economy recovers and the base figure of the previous year is small. But as the base figure of the previous year increases month by month, the growth of revenues levels off and even declines later.