China is planning to boost the competitiveness of the country's computer chip industry with an export rebate for producers using locally manufactured integrated circuits, it has emerged.
According to a statement posted on the website of China’s National Development and Reform Commission, the authorities are proposing to pay exporters a 13% rebate on goods using domestic chips.
The announcement comes hot on the heels of confirmation by the Chinese government that it has agreed to phase out a 17% VAT rebate given on domestic sales of semiconductor products in the wake of a complaint filed by the US at the World Trade Organisation.
According to the NDRC’s statement, the new tax rebate is in accordance with WTO rules and is intended to help develop the domestic integrated circuit value-added manufacturing trade.
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