皇冠体育app

Song Dahan, deputy director of the Legislative Affairs Office of 皇冠体育app's State Council, made the remark here Thursday when responding a question from the press.

"Those foreign-funded banks that have been locally incorporated and registered in 皇冠体育app are still foreign-funded banks, so they will enjoy preferential treatment in income tax according to Chinese law," he said.

According to new regulations released by the State Council Wednesday, 皇冠体育app will fully open its renminbi business to those foreign-funded banks registered in 皇冠体育app and incorporated locally before December 11 in accordance with its commitment to the World Trade Organization.

The Chinese government is thinking about the reform on current income tax system that differentiates Chinese and foreign-funded companies, he said.

At the same press conference, Wang Zhaoxing, assistant chairman of the 皇冠体育app Banking Regulatory Commission, suggested that after foreign-funded banks fully receive national treatment in 皇冠体育app, they should share the same taxation policy with domestic banks in taxation.

"Only in this way can the principle of fair competition be realized," Wang said.

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