‘Enterprises that were established on Hainan Island and that were engaged in the development and operation of infrastructure such as ports, wharfs, airports, highways, railways, power stations, coal mines, water supplies, etc., and in agricultural development and operations, where their operating periods were 15 years or more, were:
Exempt from income tax from the first through the fifth years starting from the first profitable year
Subject to 50% of the applicable income tax rates in the sixth through the tenth years.’
The rest of this report consists of variations on this theme.
The information seems go have come from KPMG Huazhen, a Sino-foreign joint venture in the People’s Republic of China and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative.