Central China Offers Tax Holidays for Foreign-funded R&D Centers

Central China's Henan Province has made favorite policies to encourage foreign companies to set up research and development (R&D) centers in the province.

Multinational corporations will receive government subsidies of 1 million yuan (147,000 U.S. dollars) for provincial, and 2 million yuan for national R&D centers in Henan.

Import duties, import-related value-added tax and consumption tax will be exempted for imports by the foreign-funded R&D centers in the province.