According to Xinhua News Agency, a new regulation designed to promote China’s international cultural trade was recently released by the government. The regulation focuses on four areas including finance, taxation and administration wherein the government will help support Chinese companies to expand their international market shares.
First, companies that aim to export their products will enjoy the same government incentives as regular businesses receive. The government will assist companies to accelerate innovation in product production and technology while also developing export channels. Second, the government will improve financial and taxation backing for product exports. And concerning key product and service exports promoted by the government, they will enjoy zero taxation. Third, the government will give its backing in finance policies, such as in the credit and loan sector, along with insurance and foreign exchange management.
In addition, the regulation also noted that relevant government organs must cooperate to insure proper implementation.