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Tax Incentive under the Belt and Road Initiative

On 28 March 2015, the National Development and Reform Commission (“NDRC”) of China issued its Vision and Actions on Jointly Building the Silk Road Economic Belt and 21st Century Maritime Silk Road (“Belt and Road Initiative” or the “Initiative”). The Belt and Road Initiative is a signi cant development strategy launched by the Chinese Government with the intention of promoting economic co-operation among countries along the proposed Belt and Road routes. The Initiative has been designed to enhance the orderly free flow of economic factors and the efficient allocation of resources. It is also intended to enhance market integration and create a regional economic co-operation framework.