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Under China's current tax regime, VAT is collected by the state taxation authorities, with 75 percent turned in to the central government and the rest to local governments. Revenues from business tax belong to local governments and account for more than one-third of local government incomes.
In August, China's North Locomotive and Rolling Stock Corporation Limited delivered to Siemens AG a batch of high-speed train compartments worth 14.3 million U.S. dollars, marking the first such export to Europe.
Before Changsha rolled out its plans, Nanjing, capital of east China's Jiangsu Province, set out favorable policies designed to spur its economy, including stepping up investment efforts.
A report released separately by the Ministry of Agriculture on Tuesday showed that the average wholesale price of aquatic products across the country dropped 1.38 percent in July, compared with June. But the figure marked a 8.09-percent rise from last year.
Six professional teams of 90 members and more than 1,000 people were at the scene to carry out rescue operations.
来源：资阳报