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Loufeng Township Hits 1 billion Financial Revenue

An annual summary and citation conference was held by Loufeng Township government on Feb. 11 to review the economic and social development in the past year and to announce the tasks for the new year.

In the year 2005, the general budgeted financial revenue hit the record high of 1 billion yuan RMB, which doubled the target of 2003, and ranked the fourth among rural townships of Suzhou Municipality. The paid-up foreign investment and the newly increased domestic and overseas investment ranked respectively the first and second in Suzhou. The township was elected to be the fourth of the 1,000 economically advanced townships in China.

The year 2006 will be a crucial year for the township to advance towards basic modernization from a well-off starting point. Major economic targets are expected to increase by 35%, and the local financial revenue to reach 1.35 billion RMB. The net income of the citizens will rise by 11%.

Feb. 15, 2006

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