CHINA Circular issued clarifying policy on Taiwan-funded enterprises

CHINA

Circular issued clarifying policy on Taiwan-funded enterprises

China Daily

13:23, May 16, 2020

File photo: VCG

A circular about promoting the development of Taiwan-funded enterprises and projects in the mainland was jointly issued by 10 central departments on Friday, including the National Development and Reform Commission and the State Council Taiwan Affairs Office.

The circular is intended to implement the decisions and arrangements made by the central leadership on coordinating prevention and control of COVID-19 outbreak and economic and social development.

The document, consisting of 11 specific measures, aims at further promoting cross-Straits economic exchanges and deepening the integrated development of the two sides.

The circular requires mainland authorities to ensure Taiwan-funded enterprises are equally entitled to various policies issued by the central and local governments so as to help them cope with the epidemic and resume work and production.

The measures also include helping Taiwan-funded enterprises increase capital and production, encouraging them to participate in the construction of new and traditional infrastructures and giving them policy of tax reduction and financial support.

Taiwan-funded enterprises will be encouraged to participate in the research and development of 5G, industrial internet, artificial intelligence and other new infrastructures on the mainland in various forms, according to the circular.

Businesses that meet requirements may be exempted from collection of social insurance, or see their collections halved.

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