China Rolls Out 5-Year Tax Break to Propel Science, Technology

(MENAFN) Beijing has rolled out a sweeping package of tax incentives spanning five years to accelerate the country's scientific and technological development, signaling a major policy push as China charts its next half-decade of national growth.

A state-run news agency reported Saturday that the Ministry of Finance, the General Administration of Customs, and the State Taxation Administration issued a coordinated joint statement formalizing the measures.

The policy, which took effect January 1, 2026, and runs through December 31, 2030, grants eligible science and technology popularization institutions exemptions from import tariffs and import-linked value-added taxes on qualifying goods — a relief window that aligns directly with the duration of China's newly launched 15th Five-Year Plan covering the 2026–2030 period.

Qualifying imports under the scheme include popularization films, videos, and specialized equipment that either "cannot be produced domestically" or whose domestically available equivalents "fail to meet required performance standards" — a provision designed to fast-track access to cutting-edge foreign technology where Chinese alternatives fall short.

Institutions eligible to benefit from the exemptions include science and technology museums and natural history museums, positioning the policy as much a public education initiative as an industrial one.

The announcement reflects Beijing's sustained drive to position science and innovation as central pillars of long-term national competitiveness, with the five-year tax framework serving as a concrete financial instrument to accelerate that ambition.

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