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China's Ministry of Finance aims to.....>

CHINA PRESS
CHINA PRESS: China's Ministry of Finance aims to boost market confidence by
offering five-year tax breaks to domestic chip makers, according to a report in
Quanshang Zhongguo, an online publication affiliated with Securities Times. Amid
escalating trade tensions with the US, eligible chip design and software firms
will be exempt from corporate income taxes for two years and their taxes will be
halved in the following three years, according to the statement by the Ministry
on Wednesday night. The publication notes that while the U.S. is weighing the
blacklisting of more Chinese firms sourcing U.S. chips, Japanese exports of
semiconductor parts to China shrank sharply in April. 

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