Tax officials visit firms to know more about their needs and provide tax-related counseling. [Photo provided to Zhongshan Daily]

It is learned from the Zhongshan Taxation Bureau that 1,691 high-tech firms in Zhongshan enjoyed preferential tax policies in 2020, with tax reduction and exemptions reaching 1.398 billion yuan, up 13.11% year-on-year. 

The number of high-tech firms in Zhongshan ranked 5th in Guangdong in 2020, and increased five-fold during the 13th Five-Year Period. With the support of tax policies, many high-tech firms are making great strides in market development and intelligent manufacturing.

Zhongshan Lifesense Electronics Co Ltd, established in 2015, is an electronic equipment manufacturer specializing in the production of electronic scales. Since the pandemic, people have paid more attention to their health and fitness, so the electronic scales and other products of the enterprise have become very popular.

"Our hit products rely on the financial support for R&D, as well as the preferential tax policies." A spokesperson said that Lifesense owns 32 intellectual property rights, and the amount of additional tax deduction for R&D declared in 2020 exceeded 17.97 million yuan.

Zhongshan is popular among high-tech firms, who keep increasing their investment in the city. According to the Zhongshan Bureau of Statistics, from January to May 2021, investment in the high-tech manufacturing industry in Zhongshan increased by 43.8%, with an average growth of 46.7% per year over the last two years.