China
1,835 Employees
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Third-party revenues
$3,199,162,705
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Related-party revenues
$1,424,446,516
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Total revenues
$4,623,609,220
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Profit before tax
$430,106,824
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Tax paid
$117,929,125
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Tax accrued
$89,077,673
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Tangible assets
$2,395,180,606
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Stated capital
$1,170,919,154
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Accumulated earnings
$1,338,225,293
Main business activities
- Upstream
- Integrated Gas
- Downstream
- Trading and Supply
- Other support activities
Shell’s footprint
Shell has been present in China for more than a century where it now has integrated gas, downstream and projects and technology activities. Downstream businesses in China, in particular retail, are highly regulated. In recent years the market has opened up as part of China’s “open door” policy and our downstream business has experienced strong growth.
Country financial analysis
The statutory corporate income tax rate in China is 25% for both upstream and downstream businesses. Our corporate income tax in 2021 was mainly in relation to income from our growing downstream businesses. The accumulated earnings represent retained profits of downstream businesses, mainly lubricants and retail. The figures in the table reflect 21 companies, some of which are profit making and some of which have recorded losses. The tax paid figure is based on those companies which have made profits.
