The Ministry of Finance, along with five other government bodies—the National Development and Reform Commission, the Ministry of Industry and Information Technology, the General Administration of Customs, the State Administration of Taxation, and the National Energy Administration—recently released a joint notice to revise the import tax policies for critical technological equipment. This move aims to enhance the core competitiveness of domestic enterprises, foster independent innovation capabilities, drive industrial transformation and upgrades, and ensure long-term economic sustainability.
According to the “Notice on Adjusting Import Tax Policies for Key Technological Equipment,†which took effect on July 1, 2009, domestic enterprises focusing on developing major technological equipment and products can now import essential parts and raw materials duty-free. However, this exemption applies only to those items necessary for domestic enterprises to support their development. Additionally, the previous tax exemption benefits for complete machinery or full systems have been rescinded. To address situations where domestic equipment still falls short of meeting demand, a temporary continuation of preferential tax policies will be granted under strict scrutiny, gradually reducing exemptions and narrowing the scope of tax-free imports over time.
Among the state-supported technological equipment and products listed in the updated catalogs are large-scale clean energy power generation devices, million-kilowatt nuclear power units, ultra-supercritical thermal power units, 600MW and 1000MW coal-fired boilers, steam turbines, and generators.
The notice also announced that starting July 1, 2009, domestic enterprises will no longer receive exemptions or reductions for customs duties and import VAT on key components and raw materials used in the production of major technological equipment. For cases where enterprises imported such parts between January 1, 2008, and June 30, 2009, and wish to continue enjoying the initial tax policies, applications must be submitted to relevant authorities by September 30, 2009. Applications received after this date will not be considered.
For enterprises planning to import major technological equipment and related key components or raw materials from July 1, 2009, to December 31, 2009, applications must be submitted by October 1, 2009. Those approved will qualify for the 2009 import tax exemption policy beginning July 1, 2009.
This adjustment reflects the government's commitment to balancing support for domestic industries while encouraging self-reliance and innovation in advanced technologies. It signals a strategic shift toward fostering long-term growth through more targeted and sustainable measures.
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