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Custom Revenue Grows 19% in First Half Year
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Total revenue levied by Chinese customs in the first half of the year grew 19 percent compared to the same period the year before, to reach 295.8 billion yuan (US$37 billion), said officials from the General Administration of Customs on Wednesday.

Tariffs accounted for 55.9 billion yuan and import taxes account for 239.9 billion yuan.

The growth in revenue mainly resulted from the brisk demand for imported goods and the continuous price rise of primary products in the international market, according to the administration.

In the first six months of the year, the import growth of revenue-contributing goods such as crude oil, processed oil, machinery and electronic products and vehicle parts all exceeded 25 percent over the same period last year.

In the first half of the year, the price of imported crude oil climbed 33.1 percent over the same period last year to US$454.3 per ton. The cost of Alumina grew 29.8 percent to US$486.5 per ton, and the refined copper prices rose 65.5 percent to US$5,639 per ton.

Price hikes of the three products meant customs revenue grew by more than 10 billion yuan, said the administration.

(Xinhua News Agency July 6, 2006)

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