CHINA
China National Tobacco Corp. (CNTC) announced during its annual meeting in Beijing early November that it will reach its sales target for this year of 47.5 million crates of cigarettes (2,375 billion cigarettes), up 0.2% from last year.
The world’s largest maker of tobacco products by revenue expects that sales will be up by 122,000 crates by the end of the year or 6.1 billion cigarettes.
In 2017, CNTC had sales of 47.4 million crates, 0.8% higher than in 2016.
CNTC owns well-known Chinese cigarette brands such as Hongtashan, Baisha, and Double Happiness, and accounts for 98% of all tobacco sales in China, generating up to 11% of the country’s taxes.