Five Chinese Authorities Jointly Issued Import Duty Policy for Major Science and Technology Projects

The Ministry of Finance of P. R. China, in conjunction with the Ministry of Science and Technology of P. R. China, the National Development and Reform Commission of P. R. China, the General Administration of Customs of P. R. China, and the State Administration of Taxation of P. R. China, issued the Notice on Import Duty Policy for Major Science and Technology Projects to support the research and development of the State major strategic products, key generic technologies, and major projects, creating an environment encouraging self-innovation.

According to the Notice, as from July 15, 2010, import duty and import value-added tax shall be exempted for the key equipments (including software tools and technologies), parts & components, and raw materials which can not be produced domestically, yet needed by the import items (subjects) of enterprises, universities and colleges, research institutions, and other public institutions undertaking the major special projects (subjects) of civil science and technology in the State Mid & Long-Term Planning Outline for Science and Technology Development (2006-2020), and using the State financial allocations, local financial resources, self-raised funds, and capital gained from other channels.