Seeking to retain its manufacturing prowess, the Chinese government has launched a ‘Made in China’ campaign with a host of tax concessions coinciding with Prime Minister Narendra Modi’s ‘Make in India’ pitch.China will encourage high-tech imports, research and development (R&D) to upgrade
‘Made in China’, a decision by the Chinese central government said.
Under the new campaign China will use tax breaks to encourage enterprises to upgrade their equipment and increase R&D efforts to improve the manufacturing industry.Companies that bought new R&D equipment and facilities after January 1 or possess minor fixed assets will have taxes reduced based on value, the Cabinet, presided over by Premier Li Keqiang, has decided.
‘Made in China’, a decision by the Chinese central government said.
Under the new campaign China will use tax breaks to encourage enterprises to upgrade their equipment and increase R&D efforts to improve the manufacturing industry.Companies that bought new R&D equipment and facilities after January 1 or possess minor fixed assets will have taxes reduced based on value, the Cabinet, presided over by Premier Li Keqiang, has decided.