CHINA’S HUGE TOBACCO SECTOR FACING TOUGH TAX HIKES

BY MARK GODFREY The growth in cigarette sales is slowing slightly in China, which has also seen a shift towards premium product purchases and consolidation of what is the world's largest tobacco industry. China sold 1.19 trillion cigarettes in the first six months of 2009, a 3.6% climb on the same period last year. But the rate of growth slowed 0.5% on the 2008 figure, which was in turn down 2.8% on the first six months of 2007. Aside from consolidating the sector, China's State Tobacco Monopoly Administration (STMA) (which oversees the industry) is currently ...


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