The Ministry of Finance has recently implemented a targeted import tax policy aimed at boosting China's independent innovation in the CNC equipment sector. The policy, which took effect on January 1, 2008, imposes import duties and value-added tax (VAT) on key components and parts imported by domestic companies involved in the development and production of large-scale, high-precision, and high-speed numerical control (CNC) equipment and their functional components. This move is designed to encourage local manufacturing and reduce reliance on foreign technology.
CNC equipment is a critical indicator of a country’s advanced manufacturing capabilities. For many years, China’s high-end CNC machine tools were largely imported, and the development of CNC systems and related components lagged significantly. This dependency hindered the upgrading of China’s manufacturing industry and posed risks to industrial security and economic growth.
As of May 1, 2008, foreign-invested projects approved under the "Foreign Investment Industry Guidance Catalog" (amended in 2006) are eligible for specific import tax benefits. According to Announcement No. 2 of 2007 from the Ministry of Finance, self-use machine tools and pressure forming machines listed in categories 1, 2, and 3 of the 10th section of general equipment can be exempt from import VAT, though they may still be subject to import duties. Projects approved before May 1, 2008, that qualify for the "Notice of the State Council on Adjusting the Taxation Policy on Imported Equipment" (Guo Fa [1997] No. 37) can still benefit from previous regulations if they import the specified equipment before November 1, 2008. After this date, such equipment will be subject to import duties, but VAT exemptions will remain in place.
These provisions apply to non-priced imported equipment used by foreign-funded advantageous industrial projects, foreign government loan projects, and international financial organization loan projects. The policy aims to support the long-term development of China’s manufacturing sector by promoting domestic technological advancement.
To qualify for the import tax benefits, enterprises must demonstrate the ability to design and test large-scale, high-precision, and high-speed CNC equipment and their components. They should also have a professional team, strong technical capabilities, and the capacity to absorb and redevelop imported technologies. Companies must have clear market demand and a significant user base. Initially, annual sales of CNC equipment or components should exceed 100 units, with some flexibility during the early stages of operation. Heavy-duty and ultra-precision CNC equipment sales are not subject to this limit.
In the future, the list of eligible products will be reviewed and updated based on company applications, policy effectiveness, and domestic industrial support capabilities.
According to officials from the Ministry of Finance’s Customs Department, the new policy will significantly enhance the R&D and production capabilities of Chinese firms. Industry experts also believe that this initiative will promote a more sustainable model of technology development, combining technology introduction, digestion, absorption, and reinvention. Ultimately, it is expected to provide crucial support for the growth of China’s equipment manufacturing industry and its broader economic development.
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