Xinghua has made dedicated efforts to accelerate the transformation of the foundry industry and promote the industry's transition towards high-end, digital, and green development.
Xinghua, a county-level city administered by Taizhou, Jiangsu province, is building on its existing strengths to establish itself as a benchmark for innovation and quality in the sector.
China has now cultivated over 600,000 high-tech and innovative small and medium-sized enterprises, positioning them as central engines for high-quality growth and global industrial resilience, officials and experts said.
China's finance, taxation, and commerce authorities on Monday unveiled a tax incentive granting foreign investors a 10 percent corporate income tax credit on direct domestic investments funded by dividends from Chinese resident companies.
