Rail System Enjoys Import Tariff Exemption for Major Technical Equipments

At the beginning of 2010, the Ministry of Finance of China held a conference in Beijing on import tariff reduction and exemption for major technical equipments. The conference mainly focused on the application for tariff reduction and exemption submitted by 10 domestic enterprises adopting Shield Tunnelling technology. Five authorities including the Ministry of Finance, the National Development and Reform Commission of China, the Ministry of Industry and Information Technology of China, the General Administration of Customs of China and the State Administration of Taxation of China jointly approved 4 enterprises finally, with China Railway Track Systems Group Co., Ltd. as one therein and approved of a tariff-free import quota at CNY 35.25 million for the second half of 2009.