Latest News:  
Beijing   Sunny/Cloudy    32 / 19 ℃  City Forecast

Home>>China Business

Chinese private investors offered preferential tax rates

(Xinhua)

13:42, June 07, 2012

BEIJING, June 7 (Xinhua) -- China has issued a policy offering preferential rates of tax for private investment, a move to assist investors in accessing the country's state-dominated sectors.

The State Administration of Taxation (SAT) said in a statement released on Wednesday that the tax policy, compiled according to existing regulations, covers six major tax categories and 33 subitems.

It comes after several long-monopolized sectors opened to private capital, a move anticipated by the market since May 2010, when the government published an instruction encouraging the participation of private investment in state-run sectors to increase the economy's efficiency.

Sectors including finance, transport, railway and healthcare, have so far been given the green light to open to private capital, as China, with its first-quarter gross domestic product growth hitting a near-three-year low of 8.1 percent, looks to prop up its economy without overly relying on monetary or fiscal stimulus.

Of the total subitems, 11 cover social undertakings, nine cover basic industries and infrastructure sectors, and seven innovation and industry upgrading. Other subitems relate to public utilities, affordable housing, financial services, and trade circulation.

While stressing the role of taxation in encouraging and guiding private capital, the SAT urged taxation authorities at all levels to effectively implement the policy.

Email|Print|Comments(Editor:厉振羽、张洪宇)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Tinted clouds paint sky in Zhejiang

  2. Amazing night scene of Taizhou

  3. World in photo

  4. Naval escort taskforce organizes helicopter training

Most Popular

Opinions

  1. Nation needs private capital for resource demand
  2. Int'l board could give local stocks a run for money
  3. SCO is strategic choice for members
  4. Conditions not ripe for farm land privatization
  5. 'Going Global' a win-win game for both sides
  6. China is a strategic and reliable partner
  7. Anti-monopoly push may fail to woo private capital
  8. Real benefits of high trade volume remain elusive
  9. Construction boom could hinder economic growth
  10. Much-needed cooling awaits China

What's happening in China

Test takers get festive send-off in E China

  1. China’s trade picks up in May: survey
  2. Domestic stocks slump on housing restrictions
  3. CSRC on pricing mechanism of IPO stocks
  4. China's Great Wall is 21,196 km long: survey
  5. Salaries for top bank execs on the rise

China Features

  1. Maritime spat between China and DPRK
  2. The 24 solar terms
  3. High ticket prices, unaffordable landscapes
  4. Huangyan tensions
  5. 2012 Russia-China joint naval exercise

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai