CHINA: State Council looks to upgrade high-tech zones

Trivium China

On Friday, the State Council released new guidelines for improving national high-tech industry development zones.

Some context: First rolled out in 1988, national high-tech zones offer tax and other incentives to companies in high-tech industries.

More context: There are currently nearly 170 national high-tech zones across China.

The goals of the new policy:

Foster a number of internationally competitive companies and industrial clusters by 2025.
Establish a large number of internationally influential high-tech zones whose industries are at the high end of global value chains by 2035.

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