China Extends Favorable Conditions for Investments in Technology Start-Ups by Venture Capital Enterprises

China's Ministry of Finance and State Administration of Taxation have jointly issued Announcement No. 6 of 2022, which extends certain favorable conditions in order to further support entrepreneurship and innovation through the incentive for investments in technology start-ups by venture capital enterprises and angel investors. This includes an extension of the increase in the maximum number of employees to 300 and the increase in the maximum total assets and annual sales to CNY 50 million f…