2018-01: Notice on Perfecting Tax Rebate Policy for Port of Departure

The Ministry of Finance, the General Administration of Customs and the State Administration of Taxation jointly issued a notice that container cargo of exporting enterprises that declare for export at the port of departure and is transported by qualified transportation enterprises and transferred directly from the waterway or stopping at the designated port (via port), and departing from that same port can enjoy the applicable tax refund policy.

The policy is also applicable to Shanghai Waigaoqiao Port and Shanghai Yangshan bonded port area.

2018-03: Notice on Extending the Scope of Free Trade Accounts

The municipal financial affairs office issued a notice to extend the application scope of FT accounts to the whole city to cover four types of enterprises.

The first type includes the institutions on the “Shanghai Science and Technology Innovation Occupation List”, science and technology enterprises with needs of cross-border financing, capital increase and share expansion, mergers and acquisitions, listing, centralized management of funds, and market players who play a driving role in their industry’s development cycle.

The second are the entities that serve the Belt and Road construction and “going out” enterprises with international trade settlement and financing needs.

The third are the entities related to the headquarters economy such as multinational enterprises that need to set up a full-featured cross-border two-way RMB fund pool and centrally manage global RMB funds onshore.

The fourth are cross-border equity investment enterprises that support the real economy to enhance capital strength. They should follow the concepts of green investment and science and technology investment, and focus on the construction of a Shanghai science and technology innovation center, green environmental protection and Belt and Road construction.