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China Supports High-Tech Industries through Preferential Fiscal, Tax Policies
The Chinese government is supporting the development of high-tech industries through its preferential fiscal and tax policies, according to an official with the Ministry of Finance.
He said at a forum on international finance Tuesday that high- tech enterprises in state-approved high-tech development zones will enjoy a preferential income tax rate of 15 percent.
The government has also mapped out a series of preferential policies to encourage high-tech development, including setting up a special fund for small and medium enterprises, worth 1 billion yuan, and some venture investment funds.
China's high-tech industries have developed rapidly. Last year, high-tech exports reached 24.7 billion US dollars, up 23 percent from the previous year, ranking first in growth rate among all export products.
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