Jan. 30, 2012 (China Knowledge) - Shanghai
's fiscal revenue grew 19.4% year on year to RMB 342.98 billion last year, according to figures released by the Shanghai
Statistics showed that the value-added tax and business tax rose 7.2% and 11.5% year on year to RMB 41.67 trillion and RMB104.15 billion, respectively.
The city's corporate income tax last year rose 20.6% year on year to RMB 73.11 trillion and its personal income tax amounted to RMB 31.50 billion, representing an increase of 20.6% from two years ago. Shanghai
's fiscal expenditure increased 18.5% year on year to RMB 391.49 billion.
Total deposits at financial institutions in the city had increased 11.5% year on year to RMB 5.81 trillion at the end of 2011, and total loans issued by these financial institutions had climbed 8.9% year on year to RMB 3.72 trillion.