ANNOUNCEMENT 20 Mar 2014
March 13, 2014 - The Chinese government published a new iteration of a scheme which granted interest subsidies on certain imports.
NUMBER OF INTERVENTIONS
PRC State Administration of Taxation, March 13, 2014. (财关税〔2014〕2号)
On 20 March 2014, the National Development and Reform Commission (NDRC), Ministry of Finance (MOF) and Ministry of Commerce (MOFCOM) jointly released the Catalogue of Encouraged Technology and Product Imports (2014 Catalogue), announcing the provision of interest subsidies for the import of "encouraged" equipment, products and materials. The Central Government set special funds aside to provide the subsidies to importers, with the purpose of promoting advanced technologies, equipment and raw materials imports.
Compared to the 45 encouraged industries in the 2011 Catalogue, 75 encouraged industries are listed in the 2014 Catalogue. Industries related to energy saving and environmental protection industry are listed as support priority. 223 advanced technologies, including new energy cars, 3D printing, design and production of key equipment for high-speed trains, inter-city trains and urban rail transport, etc. are listed as encouraged technologies.
166 'equipment' items are also listed as being eligible for the subsidies. This is an increase of 44 compared to the previous catalogue.
In addition, 20 kinds of raw materials are listed in the 2014 Catalogue as encouraged items for import, including Nickel, Chromium, Titanium, Manganese, Zirconium, Tin, Niobium, Tantalum, Copper, Lead, Zinc, Cobalt, Molybdenum, Antimony, Iridium, Ferronickel, Natural uranium, Ferrochrome.
In addition to the above, 48 'equipment' item and one 'Raw material' tariff lines were removed from the list, meaning they are no longer eligible for the interest subsidies.