ANNOUNCED AS TEMPORARYYes
Tax or social insurance relief
On the 28th of September 2016, the PRC Ministry of Industry and Information Technology released a targeted Five-Year Plan to raise the quality of Smart Manufacturing in the nation. The plan is stated to be a respose to the governments broader calls for technological progress in the manufacturing sector, namely Made in China 2025 (see framework) and National Announcement 2016/28 (see related state act).
Companies that come under the remit of the plan will be eligible for various 'preferential tax policies', including reductions in corporate tax, and reduced import taxes for technical equipment (see related act).
The plan aims to increase the standard of technology in the manufacturing sector in the PRC. Some specific examples are mentioned, such as:
In sum, to be eligible for benefits under this scheme, a firm must be a domestic Chinese firm, which manufactures some kind of goods, or provides a service that directly benefits such a firm.
This measure is classified as amber due to the lack of specific implementation information provided. Please see related act for announcement relating to this.
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