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The Beijing city government has revised its policies that have until now allowed overseas investors to enjoy exemption or reduction on land-use tax.
The Chinese capital is getting in line with a national law requiring that local laws or regulations regarding foreign trade and economic cooperation abide by national laws and regulations, the city government said Sunday.
Beginning this year, the city's local taxation bureau will collect fees on land-use rights from foreign companies by October 20 every year.
Through an improved investment environment, foreign companies will be able to get greater returns from their investments in Beijing, said a local official.
(Xinhua News Agency September 3, 2002)
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