What preferential policies can an export-oriented enterprise and an advanced hi-tech enterprise enjoy?
a Apart form the state provisions that they pay for or extract for insurance, welfare and accommodation allowance for the Chinese staff, export-oriented enterprises and advanced hi-tech enterprises are exempt for other subsidies the state give to employees. b. Export-oriented enterprises and advanced hi-tech enterprises are given priority in the supply of water, electric power, transportation and telecommunication required in business and charged at the same prices as with State enterprises. c. Export-oriented enterprises and advanced hi-tech enterprises which need in production and circulation short-term funds of other necessary loans shall be given priority once examined by the Bank of China. d. The exported-oriented enterprises can still be exempt form local income tax after the period of local income tax exemption expires when the value of exports exceeds 70% of the year’s production value. e. Advanced hi-tech enterprises can still paytheir enterprise income tax at a reduced rate o
