The Ministry of Finance issues a notice on import tax preferential policies for the exploration, development and utilization of energy resources during the 13th Five-Year Plan period.

The Ministry of Finance has issued a notice on the import tax preferential policies for the exploration, development, and utilization of energy resources during the "13th Five-Year Plan" period. In order to improve the energy production, supply, storage, and sales system, strengthen domestic oil and gas exploration and development, and support the import and utilization of natural gas, the relevant import tax preferential policies are now announced as follows: 1. Equipment, instruments, spare parts, and specialized tools that are imported for self-operated projects conducting oil exploration and development in China's offshore areas, as well as for emergency rescue projects for offshore oil and gas pipelines, which cannot be produced domestically or whose performance cannot meet the requirements and are directly used for exploration and development operations or emergency rescue, are exempt from import duties. 2. Equipment, instruments, spare parts, and specialized tools imported for Sino-foreign cooperation projects conducting oil exploration and development in China's offshore areas, which cannot be produced domestically or whose performance cannot meet the requirements and are directly used for exploration and development operations, are exempt from import duties and import value-added tax. 3. Imported natural gas received by cross-border natural gas pipelines and import liquefied natural gas receiving and storage facilities projects approved by the National Development and Reform Commission, as well as imported natural gas received by expanded import liquefied natural gas receiving and storage facilities projects approved by provincial peoples governments, are eligible for a certain percentage of import value-added tax refund.