Asia Express - East Asian ICT
Chinese Gov't Announces IC Fund, Export Tax Rebates
June 23, 2005
According to statements made on June 17 by Lou Qinjian, vice-minister of the Chinese Ministry of Information Industry, the Chinese government is trying different methods to support the domestic electronics information industry. A special fund will be established to promote the research and development of integrated circuits. Furthermore, export tax rebates will be granted for more than 40 electronic products and electronic information companies will be given more freedom in handling their foreign exchange income. This is also intended to encourage companies to enter overseas markets.