China Lifts Import Duties to Boost Key Research

[2010-08-04 13:11:06]


China has cancelled import duties on equipment, technology and materials that are used in state-endorsed research projects, the finance ministry said on August 3, 2010.

The policy, which came into effect on July 15, is aimed at promoting China's research and development of "strategic products, key technologies and important engineering projects", according to a statement on the ministry's website (www.mof.gov.cn).

Research projects in core electronic devices, high-end general chips and software products, integrated circuit manufacturing equipment and new broadband wireless communication networks can apply for the preferential treatment.

The policy also applies to projects in advanced computer numerical control tools, large-scale oil and gas field development, large-scale advanced nuclear power facilities, water pollution control and management, new genetically modified species cultivation as well as new medicines to help prevent AIDS and viral hepatitis.
Source: Reuters
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