Tax breaks for China’s agri, oil projects

China said it will offer tax breaks and loans to industries such as agricultural production, oil and gas exploration and coal mining, particularly focusing on environmentally-friendly projects.

The National Development and Reform Commission will classify industries that are to be “encouraged”, “restricted” or “to-be eliminated”, the top planning body said in a statement here today.

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Environmental-friendly projects such as small-emission vehicle production will also gain government support, Liu Zhi, director for Industrial Policy Department at the planning body, told reporters./p>

Business Times