Local tax revenue in Pingtan county, Fujian province, exceeded 1 billion yuan ($160.7 million) in 2012, according to statistics from Pingtan's county taxation bureau, Pingtan Times reported on Jan 24.

Tax revenue in 2012 reached 1.1 billion yuan, almost a 110-fold increase from the 10.21-million-yuan figure when the bureau was set up in 1994, said Chen Mingyan, director of the local taxation bureau.

"The increase is a direct result of the establishment and opening-up of the Pingtan Comprehensive Pilot Zone," Chen said.

In terms of construction projects for the county's public infrastructure, industrial development and social welfare, Pingtan's taxation accumulated to 254 million yuan, including 135 million yuan in 2012 alone.

"Total taxpayers reached 6,114 in 2012 from less than 2,000 in 2009," Chen added. "Pingtan is expected to witness a leapfrog in its taxpayer figure as more and more preferential policies for development come out."

Edited by Chen Zhilin and Michael Thai