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Tobacco generates CNY 1 trillion in profit and tax

15 Jan 2015

The state tobacco monopoly generated CNY 1.05 trillion (EUR 146 billion) in profit and taxes last year, a gain of 10 per cent from 2013, Xinhua news agency reported.

CNY 911 billion was turned over to the government, according to State Tobacco Monopoly Administration (STMA) data cited by Xinhua. In 2013, the tobacco industry handed over CNY 816 billion, which accounted for 6.3 per cent of total government revenue that year. STMA expects to hand over about CNY 1 trillion to the government in 2015, Xinhua said.

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