On April 1, the State Administration of Taxation’s Shandong Office and local taxation bureau issued a ranking of the top 100 taxpayers. Huaxing Petrochemical ranked 94, with 513 million yuan ($82.26 million) in tax contributions last year. Faced with a complex economic situation in China and abroad, the company focused on restructuring to ensure growth. It strengthened internal control to improve management, upgraded product quality to expand market share, and stepped up technology innovation efforts to remove bottlenecks on device operations. It brought energy conservation and consumption reduction into evaluation on unit operation quality improvement, and accomplished upgraded enterprise development quality and efficiency through a series of effective management measures. Last year, the company’s annual business income stood at 24 billion yuan, with 529.89 million yuan in profit and 513 million yuan in tax. Economic indicators all witnessed significant year-on-year growth, the best in history. Shandong has raised the threshold of being a top taxpayer from 400 million yuan in 2012 to 474 million yuan.