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Electronics Production | March 05, 2007

Less advantages for foreign companies<br>when China is developing

Chinese prime minister Wen Jiabao plans to reduce the support for the foreign companies that are establised in the country.
As China economy is getting better, the support for the foreign companies that are investing in the country will be reduced. The tax redundancies that companies have been receiving for investing in China will decrease. Prime Minister Wen Jiabao has placed a new law suggestion which will equal the taxes so that foreign company's competitive advantages will become fewer.

So far the foreign companies have paid 15 % in income tax and the Chinese companies have paid 33 % in income tax. According to the new law suggestion, both foreign and Chinese companies must pay 25 % in tax.

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