At a national forestry meeting yesterday, seven ministries announced policies of reducing or even canceling income tax and value added tax on some forestry and agricultural products, Beijing Business Today reported.

The ministries present included the State Forestry Bureau, the Ministry of Finance, and the National Development and Reform Commission.

Moreover, policy banks will provide lengthened loans and other financial services tailored to the forestry industry. Individual producers and small-sized enterprises will also be able to receive loans after relevant mechanisms are established.

 
 
 
Source:chinadaily.com.cn