China's Tax Incentives Boost Software and Semiconductor Industries

On May 22, according to Jin10, Li Chao, Deputy Director of the Policy Research Office at the National Development and Reform Commission, announced at a press conference that China has collaborated with relevant departments for six consecutive years to create a list of integrated circuit enterprises or projects and software companies eligible for tax incentives. Overall, these tax incentives have effectively reduced costs, promoted research and development, and stabilized expectations, significantly advancing the rapid development of industries such as integrated circuits, foundational software, industrial software, and artificial intelligence software.