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The Auto Industry Aristocracy in China's "Top 100 Taxpayers" in 2003
On September 12, the "2003 China's Top 100 Taxpayers List" was officially released by the State Administration of Taxation and China Tax Magazine. This annual ranking has become a significant indicator of corporate tax contributions and economic influence in China. Unlike other rankings that may focus on market share or brand recognition, this list is based purely on the amount of taxes paid, making it a more accurate reflection of a company’s financial contribution to the national economy.
The automotive industry continues to show strong growth, with its presence in the top taxpayers list becoming increasingly prominent. In particular, the tax payments from the top 100 vehicle manufacturers have seen a steady rise. For instance, in 2001, these companies contributed 8.1 billion yuan in taxes; by 2002, that figure had increased to 12.59 billion yuan, and by 2003, it reached an impressive 17.225 billion yuan.
One of the key highlights is that six major automakers made it into the Top 100 taxpayers list. Among them, Shanghai Auto Group stood out as the highest taxpayer in the industry, with consistent annual tax increases ranging between 12% and 13%. Meanwhile, Shanghai GM experienced rapid growth, with an annual tax increase of around 80%, while FAW-Volkswagen saw a more moderate but still substantial rise of approximately 30%. Guangzhou Honda, Shenlong Motors, and Chongqing Changan also maintained strong positions in the rankings.
Another notable point is that among foreign-invested enterprises and companies from Hong Kong, Macau, and Taiwan, 16 auto manufacturing firms appeared in the top 100 taxpayers list. These companies collectively paid 20.663 billion yuan in taxes, accounting for 32.92% of the total tax collected from foreign-funded businesses. This makes the automotive sector the largest contributor within this category. Shanghai Volkswagen topped the list with 4.509 billion yuan in taxes, followed closely by Shanghai GM, which surpassed FAW-Volkswagen to take second place, while FAW-Volkswagen secured the third position.
The rankings also reflected some dynamic changes, with several new names entering the list. Notable additions included well-known companies such as Guangzhou Honda, Beijing Hyundai, GM Wuling, and Yueda Kia, signaling a shift in the competitive landscape of the industry.
Additionally, three companies—Chery Automobile Sales Co., Ltd., Jilin FAW-Volkswagen Sales Co., Ltd., and Qingdao FAW Trading Corp. Qingdao Branch—were featured on the “Top Ten Tax-paying List of 168 Industry – Automobile, Motorcycle and Parts Wholesale.†They occupied the top three spots in this specific category, further highlighting their growing influence in the automotive supply chain.
Overall, the 2003 Top 100 Taxpayers List not only showcased the financial strength of leading Chinese and foreign automakers but also emphasized the critical role the automotive industry plays in the national economy.