In April, the local government revenues of the Municipality amount to RMB 31.28 billion, RMB 5.38 billion or 20.8% higher than the previous year, in which Municipal-level revenues amount to RMB 16.82 billion, RMB 2.27 billion or 15.6% up from the previous year. Among the major revenue items, VAT decreases by 7.9%, business tax increases by 24.7%, personal income tax drops by 6.8%, corporate income tax rises by 62%, and contract tax is up 50.9%.

In the first four months of 2010, the Municipality's economy enjoys sustained recovery. Its GDP, investments, consumption and exports present strong growths, and profitability is much better than the previous year, both of which drive up the local government revenues. But as the base figures of the previous year get higher every month, the growth of revenues in April slows down from Q1.