The State Council released a Notice to promote the development of the integrated circuit (IC) industry and software industry on August 4th, 2020. The Notice stipulates new measures such as tax reductions and exemptions across the whole industry chain. Additionally, the ...

China issued an update on its 2020 Negative List by shortening the number of restricted sectors for foreign direct investment (FDI) both nationwide and within the free trade zones (FTZs).

A new rule governing the Individual Income Tax (IIT) in China has been announced to stimulate current economic activity.