China cuts taxes on circuit industry in face of US pressure

ABC News | 5/22/2019 | Staff
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China is cutting taxes on its fledgling software and integrated circuit industries to spur development in the face of U.S. export controls that threaten to handicap Chinese tech companies.

The Finance Ministry's announcement Wednesday comes amid tension over Washington's decision to restrict technology exports to Chinese telecom equipment giant Huawei and other companies.

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