You are here

China to expand tax breaks for R&D, venture capital

Thursday, October 22, 2015 - 08:58
li.jpg
China will expand preferential tax policies for firms engaged in research and development beginning in 2016, according to a statement posted Wednesday night on the State Council website following a Council meeting chaired by Premier Li Keqiang.

[SHANGHAI] China will expand preferential tax policies for firms engaged in research and development beginning in 2016, according to a statement posted Wednesday night on the State Council website following a Council meeting chaired by Premier Li Keqiang.

Venture capital firms investing in new technology start-ups for more than two years will also receive tax breaks beginning in October 2015, the statement said.

In addition, a draft of the reform to the nationwide residence permit system was also approved, the statement said, without providing further details.

REUTERS

Powered by GET.comGetCom