A joint notice on Pingtan's import and export taxation policy was issued by the Ministry of Finance, General Administration of Customs of the People's Republic of China and State Administration of Taxation, according to Xinhua on Oct 16.

In accordance with the new taxation preferential policy, some production-related goods entering into Pingtan Comprehensive Pilot Zone from abroad are duty free or in bond, with archival filling management.

Pingtan is different from other new areas since it mainly focuses on cross-Straits exchange. The most preferential point of the new policy, said by an expert, is to cut 15 percent of the business income tax for qualified enterprises in Pingtan.

Pingtan Comprehensive Pilot Zone was founded in July 2009. The zone's overall development planning was released by the National Development and Reform Commission in November 2011. According to the planning, Pingtan was approved to open up as a whole. Some special and preferential policies on customs clearance, financial support and investment access were listed in the plan.

The infrastructure construction is booming in Pingtan after the zone's establishment. The zone's policies about customs and taxations are gradually settling down.

Edited by Nigel