The Kunming Area of the China (Yunnan) Pilot Free Trade Zone has issued a concrete policy measure document in order to further stimulate the vitality of enterprises and promote economic stability and improvement.
Kunming, capital of southwest China's Yunnan province, is set to introduce a 24 favorable policy measures to spur its economic growth this year.
Kunming’s Municipal Bureau of Finance will actively use fiscal policies to boost the city's industrial development and attract more investment.
The profits of companies in Yunnan province earned in their first two years will be exempt from income tax. From their third to seventh years, companies should pay local income tax but the money will be returned in full by the fiscal department at the same level.