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. Last Updated: 07/27/2016

China Warns Investors

SHANGHAI, China -- Companies that promise to bring foreign investment into China will lose their tax breaks if they do not deliver, a state newspaper said Wednesday.

Tax authorities are trying to stop abuses by Chinese companies that get tax breaks by signing phony investment contracts without bringing any money into the country, the Shanghai Securities News reported. China exempts companies from taxes for three years if they bring in foreign investment.