China's Ministry of Finance, State Administration of Taxation, and Ministry of Science and Technology have jointly issued Announcement No. 28 of 2022 on increased tax reliefs for high technology enterprises. High technology enterprises (as defined according to Guo Ke Fa Hou (2016) No. 32) are allowed to claim a super-deduction of 100% (an additional deduction on top of the actual cost) for equ…