Tax statistics from SIP Office of State Administration of Taxation showcased a good beginning of the year 2017. It collected record-high 6.456 billion yuan tax revenues in January, a year-on-year growth of 30.53%. Of the tax revenues, 2.488 billion yuan was local general budget revenue, a year-on-year increase of 46.67%.

The rapid growth of the state tax revenues in SIP is attributed to the following three reasons.

First, local industrial sales maintained a sustainable growth. In January, the sales volume of local industrial enterprises reached 47.3 billion yuan, with a year-on-year growth of 12.44%. Second, the tertiary industry maintained a rapid growth. In January, the state tax revenues from the tertiary industry reached 2.984 billion yuan, an increase of 63.26% over that of the same period of previous year, accounting for 3/4 of the increased state tax revenues in the month. Third, the profitability of local large-scale enterprises continued to improve. Gross profit rate and actual profit rate of 801 enterprises, each of which selling over 100 million yuan products in 2016, respectively increased by 0.71 percentage point and 0.51 percentage point over that of the same period of previous year. And the income tax collected from them in January amounted to 3.92 billion yuan, a year-on-year growth of 18.41%.