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As Leung explained, equipment manufacturing as well as research and development are included in the Made in China 2025 strategy. These companies usually invest heavily in their early days in machines, plants and all other related facilities. It will take a long time before they finally register sales and profits. With the new policy, the VAT can be retained, which means that companies can enjoy a tax rebate when they eventually report sales results. It can largely secure their cash flow and relieve this tax burden.

Arrangements regarding the approval-based system were deleted in the draft, while the section of general arrangements on new share sales was merged with the special section for the registration-based system on the sci-tech innovation board, or the STAR Market.

Appointed member of the 18th CPC Central Committee at the Seventh Plenary Session of the 18th CPC Central Committee

Apple has reached a settlement in?an antitrust lawsuit brought by?state Attorneys General and consumers over e-book price fixing, according to a filing with the U.S. District Court for the Southern District of New York.

Artisans in Suzhou, Jiangsu province, have enjoyed fame in China for thousands of years, and today a new generation is keeping the tradition alive, creating new works for modern times.