CHINA announced yesterday the extension of favorable taxation policies for venture capital firms and individual angel investors making investment in tech startups.

The policies, first unveiled in 2018, will be extended until the end of 2027, according to a joint statement released by the Ministry of Finance and State Taxation Administration.

The move is aimed at further encouraging entrepreneurship and innovation, according to the statement.

Under the policies, those investors or investment firms that pick up a stake in a tech startup at the seed stage or early stage, and which stay invested for two or more years, can deduct 70% of their investment amount from their taxable inc-ome. (Xinhua)