Dollar Deals - China Approves Automobile Joint Venture with Nissan Diesel 2. However, China expects imports will increase rapidly in the near-term. Steel products remained as the largest imported commodity. China also increased its imports of food and industrial materials, such as fertilizer, vegetables, oil, grains, cereal powders and sugar, while decreased its import level of machinery equipment and tools. Unlike the consumer price index, the retail price index doesn't include services or utilities.
Tax collections are up all across the country except Tibet.
The five largest contributors were Guangdong province, Beijing and Shanghai municipalities, Liaoning province and Zhejiang province. May. Despite the rapid growth in income tax revenues in the five-month period, individual tax evasion remains a serious problem. Systematic income tax collection started in China only last year. Some employers failed to withhold tax payments from employees' salaries, especially temporary or occasional workers. The lack of awareness of the obligation to pay income taxes among some people was another major cause of tax evasion.