China Scraps Import Tariffs for High-tech Civilian Projects

Posted on by

Aug. 6 – China recently scrapped import tariffs and value-added taxes on equipment, components and raw materials used in civilian high-tech projects.

According to a circular from the Ministry of Finance and other departments, since July 15, projects that involve the research or development of strategic products or core technologies will be tax exempt from VAT and import tariffs.

Items exempt include core electronics, high-end universal chips, basic software, integrated circuit-manufacturing equipment, new generation wireless mobile communication networks, and new drugs for the prevention and treatment of infectious diseases such as AIDS and hepatitis.

One response to “China Scraps Import Tariffs for High-tech Civilian Projects”

  1. The_Observer says:

    This could be a win-win situation for both China and exporters of goods to her. This also partially answers US criticism about Chinese intellectual property laws. While this doesn’t address China’s government procurement, it effectively lifts tariffs on imports of 4,000 items for the civilian market. That same market is being encouraged by the Chinese government in order to re-balance the economy and it is a very large market indeed. It’s now up to other countries to make it easier for their exporters to sell goods into China.

Leave a Reply

Your email address will not be published. Required fields are marked *

Dezan Shira & Associates

Meet the firm behind our content. Dezan Shira & Associates have been servicing foreign investors in China, India and the ASEAN region since 1992. Click here to visit their professional services website and discover how they can help your business succeed in Asia.

News via PR Newswire

Scroll to top