Pref­er­en­tial tax poli­cies com­ing for bio­phar­mas set­ting up shop in Shang­hai's newest free trade zone

In an at­tempt to lure more high-tech man­u­fac­tur­ers to Chi­na, the coun­try’s Min­istry of Com­merce has said it would im­ple­ment a spe­cial tax pol­i­cy for — among oth­er in­dus­tries — bio­phar­ma com­pa­nies in a new­ly ex­pand­ed free trade zone in the South­east part of the boom­ing biotech hub of Shang­hai.

The min­istry re­it­er­at­ed that it will push to at­tract more such com­pa­nies late Fri­day, Reuters re­port­ed, days af­ter it un­veiled the pref­er­en­tial tax plans.

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