CSGKC gains remarkable growth in 2019 tax revenue

China-Singapore Guangzhou Knowledge City (CSGKC) in Huangpu district has achieved a total tax revenue of 9.77 billion yuan ($1.37 billion) in 2019, up 5.1 percent year-on-year, accounting for 10.8 percent of the total number of Huangpu.

CSGKC has seen a rapid growth in both company number and tax scale as it has clustered 1,650 companies paying taxes by the end of 2019, while the tax scale has increased from 210 million yuan in 2010 to 9.77 billion yuan in 2019, with an annual average growth of 53.2 percent.

At present, CSGKC has initially formed an industrial pattern featuring seven industries, namely the new generation of information technology, artificial intelligence, biomedicine, new energy and new materials, intellectual property service, cultural innovation, as well as modern logistics.

The top 100 companies in CSGKC has contributed 9.32 billion yuan in last year's tax revenue, accounting for 95.4 percent of the total number. The tax revenue from the tertiary industry accounted for more than 90 percent of the total volume.

Currently, CSGKC has introduced 165 projects, such as those by GE Healthcare, BeiGene, and InnoCare, to settle down in the area, while 54 new projects are still under construction, costing about 77 billion yuan.

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