China’s central government on Sept. 25 announced it will offer tax breaks to encourage enterprises to upgrade equipment and increase research and development (R&D) in an effort to improve the manufacturing industry, China’s state-run Xinhua news agency reported on Sept. 25.
Companies that bought new R&D equipment and facilities after Jan. 1 or possess minor fixed assets will have their taxes reduced. Deductions will also be provided for imported high-tech equipment in aviation, bio-medicine production, manufacturing of railway and ships, electronics production including computer and telecommunications, instrument production and equipment used in making IT products and software. See, release.
