China's Tax Breaks, Fee Cuts, and Rebates Reach 1.91 Trillion Yuan in H1
2026-07-28 03:53:38
Wang Shiyu, chief auditor at China's State Taxation Administration, said at a State Council Information Office briefing on July 28 that existing policies supporting sci-tech innovation and manufacturing cut taxes, fees, and delivered rebates worth 1.91 trillion yuan in the first half. According to 36Kr, policies including extra deductions for R&D expenses, which support corporate innovation spending and technology transfer, reduced taxes and fees by 659.6 billion yuan. Preferential income tax treatment for high-tech enterprises and other measures supporting the development of high-tech firms and emerging industries cut taxes by about 252 billion yuan, while VAT add-on deductions for advanced manufacturers reduced taxes and fees by nearly 1 trillion yuan.
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