The local revenue topped 10 billion Yuan for the first time in 2002. Taxes and loans also saw large increase. The national economy maintained rapid, steady and healthy growth.

Statistics show for the first time the local revenue increased by 20.5% to reach 10 billion Yuan in 2002 . The city achieved a balance of revenue and expenditure. The financial departments have carefully carried out the financial policies and making use of the state funds to support enterprises' technical renovation and restructuring. Tax departments saw a tax increase from the largest enterprises. 40 large enterprises paid some 3 billion Yuan. Export oriented economy and private economy made more contributions to the local revenue.

The State Tax Bureau has seen an increase for 6 years in succession. The collected state tax increased 1.6 billion Yuan to reach 19.5 billion in 2002. The local tax increased 778 million Yuan to reach 7.43 billion last year.

Banks in Qingdao have improved their services and adjusted the structure of credit thus maintained a steady and fast increase of the local finance. The city's annual deposit increased 11.6 billion Yuan to reach 15.2 billion

Yuan and loan increased 9.1 billion Yuan to top 130 billion Yuan.

(QDTV__Seven Days)