Following a recent meeting on 24 September 2014, China's State Council has reportedly decided to introduce new measures on the deduction and accelerated depreciation for certain fixed assets.
Low Value Assets
All fixed assets with an acquisition value of less than CNY 5,000 may be brought into account and deducted as cost in the current accounting period.
Assets for R&D
Machinery and equipment purchased after 1 January 2014 for R&D purposes with an acquisition value of less th…