Logo 23 Jul 2026

Fiscal squeeze puts tech tax breaks under scrutiny

Subscribe to keep reading.

Sign up to stay briefed on what the Chinese government is doing, thinking, and saying.

Already a subscriber? Log in.

With money tight, authorities are getting picky about which firms count as "high-tech." On July 22, Yicai reported that growth in China's high-tech enterprises slowed sharply in 2024.

"High-tech enterprise" (HNTE) numbers topped 500,000 that year, up 83% from 2020, but up only 1.9% from 2023. Since...