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China Improves Environment for Software Export
To improve the policy-related environment for software export, the Ministry of Foreign Trade and Economic Co-operation (MOFTEC), the Ministry of Information Industry, State Bureau of Taxation, General Administration of Customs, State Administration of Foreign Exchange and National Bureau of Statistics recently jointly issued the "Notice on the Problems Concerning Software Export."
According to the notice, software enterprises each with registered capital exceeding 1 million yuan can enjoy the software export management power; enterprises dealing with software export can apply to the department in charge of foreign trade and economic cooperation for development funds for medium and small enterprises and for diversifying the international market; software-exporting enterprises, which need to pass GB£¯T19000-ISO9000 International Quality System Certification and CMM Certification, may apply to the department in charge of foreign trade and economic cooperation for subsidizing certification expenses; software export is incorporated into the business scope of the Export-Import Bank of China, and enjoys credit support at preferential interest rates.
Meanwhile, the national insurance institutions for export credit shall provide export credit insurance to these enterprises; software exporting enterprises whose export refund rate does not reach the taxable rate may, with approval from the State Bureau of Taxation, get refund in accordance with the taxable rate; the settlement and entries of foreign exchange earnings under the enterprise's current account can be directly performed at the bank by presenting relevant documents. Chinese-funded enterprises with software export management power and confirmed as "honorary enterprises" through checking their export foreign exchange earning, can open foreign exchange clearance accounts with the quota not higher than 15 percent of the gross exported amount in the previous year; enterprises meeting the requirements for software export management power can apply to MOFTEC for the establishment of overseas branches.
By PD Online staff member Du Minghua
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