Shanghai companies pay govt 683b yuan in taxes

Shanghai Tobacco topped the city's 2011 top 100 taxpaying companies, contributing more than any other local company to the total 682.87 billion yuan ($108.4 billion) in taxes that Shanghai companies paid to the municipal government last year, the city's taxation bureau said Monday.

The total amount of taxes collected by the city last year rose 15.3 percent year-on-year, and was 90.82 billion yuan more than local companies forked over the previous year in 2010, said the tax bureau.

Shanghai Tobacco paid more taxes last year than any other company in the city, though the amount paid was not released by authorities Monday. Shanghai General Motors, meanwhile, paid the second-most in taxes, while Shanghai Volkswagen paid the third-highest amount in taxes last year - putting the automobile companies into the city's top 3 taxpaying companies.

Two banks - Bank of Communications and Shanghai Pudong Development Bank - also made the top 10 taxpaying companies in the city.

Local clothing manufacturer Metersbonwe made its way onto the list for the first time last year, placing 52nd.

The tax bureau said that the increase in taxes paid to the government this year suggests that the city saw steady economic growth and should further secure improved social benefits for local residents.