E-commerce giant Alibaba Group Holding became the country’s highest tax-paying Internet firm after it paid 10.9 billion yuan ($1.76 billion) in taxes last year, Li Qiang, governor of Zhejiang Province, said.
The China Daily reported that the Zhejiang-based Internet firm had made a huge contribution to tax revenues last year, paying an average of almost 30 million yuan per day.
The report said that Alibaba paid a total tax that rose to almost 56.4 percent in 2014 from 7 billion yuan in 2013.
According to the company's earnings report, Alibaba's revenue increased by 40 percent to 26.18 billion yuan in the fourth quarter last year.
The Internet giant's shares rose 0.4 percent and closed at $82.2 on April 20, Monday.
As one of the world's most successful Chinese companies, Alibaba is considered on top of the league and lined up along with other top global Internet firms such as Google and Microsoft.
A ranking compiled by Forbes China, which was released on April 19, Sunday, said that Jack Ma Yun, founder, executive chairman and CEO of Alibaba Group, has a total net asset of $22.7 billion and was listed as the fourth wealthiest Chinese in the world.
The list also included Hong Kong tycoons Li Ka-shing of Cheung Kong Group and Lee Shau Kee of Henderson Land Development, who were ranked the top and the second richest Chinese, respectively followed by Wanda Group's Wang Jianlin in the third place.
The top 10 list also included BAT CEOs Robin Li Yanhong of Baidu and Pony Ma Huateng of Tencent. Robin Li was ranked as the sixth wealthiest and Ma Huateng as eighth.