Xiangzhou District, Zhuhai

Zhuhai gained 18.5 billion yuan ($2.9 billion) of general public budget revenue in the first half of this year, up 7.2 percent year-on-year. The gain is partly attributable to an increased and stable tax base which accounted for about 80 percent of the revenue.

According to the municipal bureau of finance, Zhuhai spent 31 billion yuan in general public expenditures during the first six months. Annual targets for both revenue and expenditures were half met.

The figures reflect that Zhuhai's economy is running smoothly and developing favorably, according to an official.

In the first half of the year, value-added growth for industrial enterprises above a designated size increased by 13.4 percent, while industrial development was responsible for over 70 percent of economic growth. The city's real economy is being promoted in large part by the petrochemical and bio-medical industries.

Excluding the contributions made by Gree Electric Appliances, a leading home appliances manufacturer, the city's industrial tax revenue rose 19.8 percent. In addition, due to an innovation-driven strategy the tax revenue of advanced manufacturing increased by 14.3 percent.

Effective regulation of the real estate market weakened it as a source of tax revenue. Tax income from real estate rose just 5.1 percent year-on-year during the first six months.

Hi-tech industries a major driving force of Zhuhai economy [Photo courtesy southcn.com]