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| Author: | Ke, Tizu |
| Title: | The impact of Asian financial turmoil on Shenzhen's economy and its tax revenue (original in Chinese) |
| Journal: | Special Zone Economy (c)
1998 : 3, p.31-32 |
| Index terms: | FINANCIAL CRISES TAXATION REGIONAL DEVELOPMENT ECONOMIC PERFORMANCE CHINA |
| Language: | chn |
| Abstract: | Because of Asian financial turmoil, the currencies of many countries have devalued by a wide margin.Relatively-speaking China's currency has appreciated. However, compared with other areas, the cost of investment in Shenzhen is even higher. As a result, the increment investment from Hong kong and other Asian area would turn to the areas where the cost of investment is lower. The import and export, tourism, real estate, financial industry and service industry in Shenzhen would be affected too. In terms of tax revenue, the low growth or negative grow would appear in the industrial and commercial tax revenue if the income of stock exchange, which account for 40% of the whole city's income decreases greatly. Therefore, the economic structure should be adjusted and optimized continuously and attention be paid to prevention and reduction of financial risks. |
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