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The State Council executive meeting held on March 24 arranged the implementation of policies such as raising the ratio of the additional (super) deduction for R&D expenses of manufacturing enterprises, in order to incentivize enterprise innovation and promote industrial upgrading.
According to the Special Development Plan for the Special-Purpose Vehicle Industry under the 14th Five-Year Plan (2021–2025), the overarching idea for the development of China’s special-purpose vehicle industry during the 14th Five-Year Plan period is to follow the development philosophy of “innovation, coordination, green development, openness and sharing”; center on high-quality development of the entire industrial chain; focus on four major development areas; cultivate five key categories of dedicated components and raw materials; prioritize the implementation of five major projects; and build special-purpose vehicle industry clusters with complete industrial chains, diverse product varieties, rich markets, outstanding competitiveness and distinctive cluster characteristics.
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