China Scraps Import Tariffs for High-tech Civilian Projects

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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.