Taicang, a county-level city in Jiangsu province, recorded 9.32 billion yuan ($1.38 billion) in taxes in the first half of 2017, with a 17.7 percent increase year-on-year, the Taicang state taxation bureau has reported.

The city's local public finance budget revenue increased 36.8 percent year-on-year to 4 billion yuan. This has been a major contribution to local economic and social development, according to local officials.

Revenue of all the main tax categories rose substantially. For instance, the added-value tax revenue increased 480 million yuan, occupying 55 percent of the overall increase. The consumption tax revenue saw an increase of 210 million yuan, and the income tax revenue increased 180 million yuan.

The direct tax revenue of local heavyweight industries totaled 6.93 billion yuan, up 8.6 percent year-on-year. Significant revenue increase were recorded in 15 industries including real estate, wholesale, and oil processing, which ranked in the top three respectively.