State-owned Chinese giant that dominates the country's entire tobacco supply chain. CNTC made some 2.4trn cigarettes in 2023. Most of the tobacco smoked in China is grown in China. The cheapest pack of 20 typically costs 15 yuan ($2). Tobacco taxes have accounted for almost 7% of central-government revenue since 2000.
The head of China's tobacco regulator is also the boss of CNTC; the two organisations share an office. When the government last attempted to raise tobacco taxes in 2015, CNTC cut its margins to prevent a surge in prices, undermining the intended effect. See also China: smoking and public health.
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