China announces tax incentives for next 5 years to promote science, technology

ISTANBUL

China has announced tax incentives for the next five years to promote science and technology in the country, the state-run news agency Xinhua reported on Saturday.

The Ministry of Finance, the General Administration of Customs, and the State Taxation Administration issued a joint statement announcing the incentives.

China launched its 15th Five-Year Plan (2026-2030) this year.

The policy, effective from January 1, 2026, to December 31, 2030, exempts science and technology popularization institutions from import tariffs and import-linked value-added taxes on eligible goods.

The eligible goods include popularization films, videos, and equipment that "cannot be produced domestically" or whose domestic versions "fail to meet required performance standards," while eligible institutions include science and technology museums and natural history museums.