Civilian high-tech projects benefit from China removing tariffs and value-added taxes

Major civilian high-tech projects will benefit from China’s decision to scrap import tariffs and value-added taxes (VAT) on key imports used in these ventures.

The Ministry of Finance, Customs Department, made the announcement today, stating that the tariffs and VAT had not been imposed since July 15, and the move was designed “…to promote the development of civilian high-tech industry and strengthen the national competitive advantage.”

Major Chinese companies, research institutes and universities will benefit, and is a boost for foreign companies exporting these materials to China.

The projects exempted include large-scale integrated circuit manufacturing equipment, high-end general chips and basic software, core electronic devices and complete sets of technological equipment.

A new generation broadband wireless mobile communication network is also a major focus, along with high-end Computerized Numerical Control machine tools.

Basic manufacturing equipment, water pollution control and management, and enhancement of new drugs is also a goal.