Guo Rong, director of the Finance Research Office at the Ministry of Science and Technology (MST) told local media at the China Venture Capital Forum 2006 that MST is formulating a new high-tech enterprise certification measure in cooperation with several other ministries, including the Ministry of Finance.
Guo said that the current measure in defining high-tech enterprises is in urgent need of alteration. He said that the new measure is already in trial use.
The current high-tech enterprise certification's conditions, which was formulated in 2002, include ten major sectors including bio-engineering, new medical technology, new material applications, advanced manufacturing, aviation technology, modern agricultural technology, new energy-saving technology, environmental protection, oceanic engineering and nuclear applications.
The new measure is said to cover more enterprises, and they will benefit directly from a new tax policy to be released in the second half of this year.