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Guangxi to Adopt Preferential Policies to Attract Investment
South China's Guangxi Zhuang Autonomous Region will adopt a series of preferential policies to attract investment from outside the region.
The policies cover various sectors including metallurgy, power generating and tourism, said Yang Daoxi, director of the region's Development Planning Commission, on Friday in a trade fair held in Nanning, capital of the region.
Yang said that enterprises that operate for over ten years will be exempt from income tax for two years, and that if export value of a enterprise's products accounts for over 70 percent of the total of the enterprise, only half of the income tax will be levied after the two year term is due.
More than 50 contracts involving 1.65 billion yuan of investment were made at the trade fair Friday, after over 30 contracts involving 15.42 billion yuan were signed Thursday.
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