Shanghai taxation authority has released a list of the top 100 enterprises in the city’s first and tertiary industries in terms of tax payment in 2013, with 10 of them located in Shanghai’s Jiading district.
Of the 10, eight enterprises, including Volkswagen Automobile, ZF Steering Systems, Continental Temic, and Volkswagen Powertrain, entered the list of the top 100 first-level industries, and the other two enterprises, Volkswagen Marketing and Volvo Marketing, were in the top 100 tertiary industries.
The results reveal a trend in economic development in Jiading.
Jiading's total tax revenue was 63.03 billion yuan in 2013, an increase of 14.6 percent year-on-year. The tax revenue of the 10 enterprises amounted to 23.91 billion yuan in 2013, accounting for 37.9 percent of Jiading’s total, or 2.9 percent of Shanghai’s.
And, nine of the 10 enterprises are related to the automobile business, including one producing cars, two selling cars, and six producing auto parts.
Jiading’s auto-related industries have played an important role in Shanghai’s economy, according to Jiading’s economics department. And the rapid development of the automobile industry in Jiading can be attributed to the district’s transformation of the industry by expanding into the entire industrial chain since last year.
In terms of company ownership, foreign-invested companies accounted for the major part, with only two companies, Liansheng automobile and Yanfeng Automotive Trim Systems, being domestically-funded. Ways to stimulate private business has become a major new topic for discussion in Jiading.
Edited by Lin Hong and Brian Salter