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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