China

Total revenue of China Tobacco hits 1.2 trillion yuan in 2019

On March 1, the State Tobacco Monopoly Administration in China stated that the total industrial and commercial taxes and profits of the tobacco industry in 2019 were 1.2056 trillion yuan, an increase of 4.3% year-on-year; the total fiscal revenue paid was 1.177 trillion yuan, an increase of 17.7% year-on-year, both of which were the highest levels in history.

For the whole year of 2019, the total fiscal revenue paid was 1.177 trillion yuan, and the average tax payment for one day was about 3.2 billion yuan. We have to say that China Tobacco’s ability to make money and pay taxes is peerless in China.

In recent years, both the revenue and taxation of China Tobacco have increased year by year. China Tobacco is regarded as China’s First Taxpayer company. Some people also say even money printing machines may not make money as fast as China Tobacco.

However, because China Tobacco has always been under the “national control”, it does not appear in the “World Top 500 List”, otherwise it can be imagined according to the “strength” of China Tobacco.

As we all know, China is a country with a large population. For any industry, the Chinese market is delicious. As long as it is favored by Chinese consumers, it is equivalent to “money printing machine”.

According to data, there are about 300 million smokers in China, and the amount of tobacco consumed each year is very alarming. Calculated based on one pack of cigarettes per person per day, 10 yuan per day. 300 million people can contribute about 3 billion yuan in one day. This “earning efficiency” makes other industries envious.

Although China Tobacco pays a lot of taxes to the country every year, many smokers say it’s due to their efforts in smoking. However, smoking is harmful to health and everyone still needs to pay attention.

How much do you contribute to tobacco industry every year, 10 yuan a day or more?

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