China’s tobacco companies produced more cigarettes even as the number of tobacco farms decreased in the first half of 2014, reports Xinhua News Agency quoting figures from the State Tobacco Monopoly Administration (STMA).
In the January-June period, Chinese cigarette manufacturers produced 1.3 million sticks, 0.2 percent more than in the first half of 2013. Meanwhile, the area of farming land dedicated to tobacco fell by 170,000 hectares to 1.23 million hectares, according to the STMA.
The tobacco industry generated RMB579.54 billion ($94 billion) in revenue for the Chinese government over the first half of 2014. Tobacco taxes constituted about 7.8 percent of China’s fiscal revenues during that period, according to the Finance Ministry and the STMA.
There are more than 300 million smokers in China
Category: Breaking News