China's 'Made in China' campaign launch coincides with 'Make in India' campaign
Updated: Sep 26, 2014 01:50:08pm
New Delhi, Sept 26 (KNN) Coinciding with Prime Minister Narendra Modi’s ‘Make in India’ campaign launch yesterday, China launched ‘Made in China’ campaign, which already is a known label.
According to the state run Xinhua news agency report, imported high-tech equipment will also enjoy tax deductions in aviation, bio-medicine production, manufacturing of railway and ships, electronics production including computer and telecommunications, instrument production and those used in making IT products and software.
The move aims to prompt technical improvement of companies, especially innovation of small and medium-sized enterprises, the report said.
Companies that bought new R&D equipment and facilities after January 1 or possess minor fixed assets will have taxes reduced based on value, according to an executive meeting of the State Council, China's Cabinet, presided over by Premier Li Keqiang on Wednesday.
In China, manufacturing contributes 47 per cent to GDP and employs 30 per cent of the workforce. (KNN/SD)
According to the state run Xinhua news agency report, imported high-tech equipment will also enjoy tax deductions in aviation, bio-medicine production, manufacturing of railway and ships, electronics production including computer and telecommunications, instrument production and those used in making IT products and software.
The move aims to prompt technical improvement of companies, especially innovation of small and medium-sized enterprises, the report said.
Companies that bought new R&D equipment and facilities after January 1 or possess minor fixed assets will have taxes reduced based on value, according to an executive meeting of the State Council, China's Cabinet, presided over by Premier Li Keqiang on Wednesday.
In China, manufacturing contributes 47 per cent to GDP and employs 30 per cent of the workforce. (KNN/SD)
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