ANNOUNCED AS TEMPORARYNo
FDI: Financial incentive
On the 20th of March 2017, the Chinese General Administration of Customs announced its first official implementation following Premier Li Keqiang's 'executive meeting' (see source 5) with the State Council in December of 2016, outwardly urging for more policies that favour foreign investment within China.
The removes all taxes and tariffs on imports pertaining to foreign investment entreprises listed in an announcement from the National Develpoment and Reform Council and Ministry of Commerce (2017 revision). The affected industries differ from province to province, focusing on areas that are already points of economic strength for each region. Broadly speaking, the following sectors are prioritised for investment:
This brings current policy back into line with a 1997 State Council edict, which was the first to implement these tax and tariff exemptions for foreign investors. The 1997 policy was changed in 2008, exempting relevant firms only from import tariffs. VAT and other import taxes still applied, until now.
⚑ Please report this page in case you detect an inaccuracy in its content.