[HIGHLIGHTS] The concerns of representatives of front-line industrial workers during the two sessions: Manufacturing is moving towards “new”

In 2022, the state will increase the pre-tax super deduction ratio for technology-based small and medium-sized enterprises from 75% to 100%. In March 2023, Zhou Yingfeng suggested that the policy of 100% pre- tax super deduction for R&D expenses should continue to be implemented.

"This will effectively increase the willingness of enterprises to research and develop, and continue to enhance their willingness to innovate," he said. Data from the State Administration of Taxation show that companies have enjoyed a cumulative super deduction of RMB 1.85 trillion for R & D expenses.