China's Ministry of Finance Friday announced new regulations on
the importation of duty-free articles that can not be made in the
country for scientific research and teaching.
The regulations came into effect on Feb. 1, 2007 when the State
Council, or China's cabinet, abolished the 1997 interim
provisions.
Research institutes and colleges are exempted from paying import
duties, value-added and consumption taxes for articles - including
teaching instruments, laboratory equipments, books and newspapers -
imported directly for scientific research and teaching.
The regulations aims to facilitate the import of such articles
and promote the development of scientific research and education in
the country, said the ministry.
Importers that use such import articles for other purposes will
be deprived of the right to enjoy the duty-free preference for one
to three years, according to the new regulations.
(Xinhua News Agency February 3, 2007)
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