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Beijing fiscal revenue tops 100b yuan in 2006

(Xinhua)
Updated: 2007-01-02 13:52

Beijing's fiscal revenue doubled infour years to hit 111.7 billion yuan (12 billion U.S. dollars) in 2006, up 21.5 percent from the previous year, the municipal financial bureau said.

The city's financial revenue has been increasing by more than 20 percent for 12 consecutive years and the 2006 figure was twice as much as the 2002 amount, a spokesman with the bureau said at a municipal fiscal work conference that ended on Sunday.

He attributed Beijing's rapid and stable fiscal revenue growth to its momentum in economic development.

In particular, the spokesman said Beijing's current development strategies to boost commerce in the city center, foster real estate and service industries in the outer areas and promote farming of profitable crops, fruits and livestocks in the rural areas have ensured coordinated and balanced economic development across the city and subsequently spurred fiscal revenue growth.

Last year, Beijing spent 11.2 billion yuan (1.4 billion U.S. dollars) to boost rural development, and 11.7 billion yuan (1.5 billion U.S. dollars) to foster public transport and ease congestion caused by the ever-expanding fleet of motor vehicles, which currently totaled around 2.8 million, including 2 million private cars.

The city also spent 1.04 billion yuan (133 million U.S. dollars) to curb pollution and improve air quality.