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1,841 Employees

  • Third-party revenues


  • Related-party revenues


  • Total revenues


  • Profit before tax


  • Tax paid


  • Tax accrued


  • Tangible assets


  • Stated capital


  • Accumulated earnings


Main Business Activities

  • Upstream and Integrated Gas
  • Downstream
  • Manufacturing
  • Chemicals
  • Trading and Supply
  • Other support activities

Shell has been present in China for more than a century where it now has upstream, integrated gas, downstream and projects and technology activities. Downstream businesses in China, in particular retail, are highly regulated but as part of China’s “open door” policy in recent years the market is starting to open up. Our China downstream business has experienced strong growth over the past 10 years.

Country Financial Analysis

The statutory corporate income tax rate in China is 25% for both upstream and downstream businesses.

Our corporate income tax in 2020 was mainly in relation to income from our growing downstream businesses. There was a drop in demand and prices as a result of the COVID-19 pandemic in the first half of 2020 but recovery was strong in the second half of the year. The accumulated earnings represent retained profits of downstream businesses, mainly lubricants and retail.

Our Payments to Governments Report for 2020 shows that Shell paid around $7 million in production entitlements and royalties.

Corporate income tax
This is a direct tax imposed on companies’ profits. It is sometimes levied at a national level but can also be levied on a state or local basis.
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Royalties are generally payment due for the use of an asset. Mineral royalties are payments to governments or other owners for the rights to extract oil and gas resources, typically at a set percentage of revenue less any deductions that may be taken. See Trademark royalties.
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