The Affairs of Guizhou Province

Liu Zeren, Chen Yaxiong and Jiang Yingliang

Chinese Economy, 1990, vol. 24, issue 2, 24-27

Abstract: 1. A weak economic foundation and a single source of income is the first major characteristic of the fiscal affairs of Guizhou Province. The vast majority of provincial fiscal revenues comes from industrial and commercial tax revenues. In the past thirty-five years, the proportion of industrial and commercial tax revenue contributed to, on average, 79.4 percent of the [annual] local fiscal revenue. In 1984, industrial and commercial tax revenue made up 90 percent of the local fiscal revenue throughout the province, and, moreover, the tax revenue from cured tobacco and cigarettes made up a large portion of the industrial and commercial tax revenues. In 1984, tax revenue from the "two smokes" made up 41.7 percent of the industrial and commercial tax revenue of the entire province. Therefore, the pace of development of the "two smokes" in reality basically determines the rate of growth of the province's budgetary revenue. However, the "two smokes" are commodities whose production is controlled and restricted by the state. As soon as there is a shift in the supply or demand in the marketplace, it would become exceedingly difficult to assure budgetary revenue. Therefore, to allow the fiscal revenues of Guizhou Province to grow and develop in a stable and sustained fashion, we must, while continuing to develop and give play to the advantageous position occupied by the "two smokes," also open up and explore additional sources of wealth, as well as seek new ways to increase revenue.

Date: 1990
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