This should have a positive impact on NN:
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China to Offer Preferential Policies on High-Tech Imports
May 14, 1998 (BEIJING) -- China plans to offer preferential policies, including tax exemptions, to local high-tech enterprises importing key technologies and facilities, according to an official. Long Yongtu, vice-minister of Foreign Trade and Economic Cooperation, said that high-tech investment projects, as long as they are in line with China's regulations, can be exempted from customs duties and import value-added taxes.
He added that the policies will be issued and implemented by the end of 1998.
"China's enterprises and foreign companies should enjoy the same policies in the development of high-tech," said Long.
During the last seven years, China has signed more than 17,000 contracts for technology imports, totalling US$66 billion.
China's technology exports include products in the computer, communications, electronics and life sciences fields.
But China's high-tech exports only account for 5.3 percent of the total foreign trade volume.
In recent year, China's introduction of technologies focused on industries such as resources, transportation, communications, chemicals and raw materials.
Presently, the country is strengthening high-tech imports in the fields of optical fibers, satellite communications, nuclear power and aerospace.
(Xinhua News Agency) >>> |
