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Tax Breaks to Lure Firms to Farm Zone
Businesses that become part of Yangling, the agricultural high-tech demonstration zone in Shaanxi Province, will be granted tax breaks and other perks under preferential policies aimed at spurring the development of western China, according to Monday's China's Daily.
Enterprises that register in Yangling will be exempted from paying 15 per cent of their income taxes, Shaanxi Vice-Governor Chen Zongxing said yesterday in Beijing. Agricultural high-tech projects will have first crack at getting special funds and loans, Chen added.
Agricultural high-tech projects will also be exempted from farm-produce taxes, Chen said.
Chen spoke at a press conference to promote the seventh China Yangling Agricultural High-tech Fair, which will be held November 5-9 in Yangling.
Chen said Yangling is determined to attract major enterprises and have in place 150 high-tech agricultural programmes this year.
The Yangling Agricultural High-tech Demonstration Zone, established in 1997, was designed to push modern agricultural development in China's dry and semi-dry western areas.
The zone has comprehensive infrastructure and modern communications facilities.
Moreover, the zone has established ties with enterprises and research institutes from the United States, Germany, Japan, Israel, France, the Netherlands, Belgium, Canada and Hong Kong, according to Fan Xiaomei, vice-secretary of the Shaanxi Provincial Party Committee.
This year's Yangling fair, sponsored by 16 ministries under the State Council and the provincial government, has drawn support from the United Nations Development Programme, the World Bank and the UN Educational, Scientific and Cultural Organization, Fan said.
"Yangling will spearhead the development of the northwestern areas that account for one-third of China's land area," said Zhang Baowen, agriculture vice-minister.
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