Software and chip firms get more support

Tax cuts and key favorable policies to boost development and upgrade sector

The State Council has provided fresh confidence and impetus to the country's integrated circuit and software sectors with its decision to continue preferential corporate tax policies at an executive meeting on Wednesday.

The Cabinet decided at the meeting, presided over by Premier Li Keqiang, that the country will continue the tax cut and exemption policies for businesses devoted to IC design and those in the software sector starting from tax calculation and collection for last year.