China's Ministry of Finance and State Administration of Taxation have jointly issued Circular No. 66 of 23 April 2019 on expanding the scope of the application of the preferential policy for accelerated depreciation. The Circular provides that the accelerated depreciation introduced for certain encouraged manufacturing sectors in 2014 and expanded in 2015 is now extended to all manufacturing sectors as classified in accordance with the National Bureau of Statistics.
The accelerated deprecia…