The reduced VAT rates are as follows:

(1) Sales or importation of tangible goods, provision of labor services and leasing of tangible personal property

From 16% to 13%

(2) Provision of transport, postal, basic telecommunications, construction, and real property leasing services, sales and transfer of real property, and land use right, and sales or
importation of 23 kinds of goods listed in the Provisional VAT Implementation Rules.

From 10% to 9 %

(3) Provision of financial services, modern services(including R&D, IT, cultural creativity, logistics supporting, consulting, radio, film and television services, business supporting and others), Daily life services (including cultural and sports, education and medical , tourism and entertainment, catering and accommodation.

Remains at 6%

(4) Exportation of tangible goods, services, and transfer of intangible assets outside China

Remains as 0%