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China tobacco sector contributes more to revenue

Source:   Time:

BEIJING, Jan. 15 (Xinhua) -- China's tobacco industry generated 1.05 trillion yuan in profit and taxation in 2014, up 10.02 percent year on year, data from the State Tobacco Monopoly Administration (STMA) said Thursday.

The industry handed over 911.03 billion yuan of profit, tax and fees to government revenue last year, up 11.63 percent, said Ling Chengxing, head of the STMA.

Although China has been stepping up efforts of tobacco control in public places in the past few years, the monopolistic sector remains a major contributor to government revenue.

In 2013, the industry handed over 816 billion yuan to the government, accounting for 6.3 percent of the country's total revenue, data showed.

The STMA forecast that its contribution to government revenue will near 1 trillion yuan in 2015.

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