Shanxi Huaxin Electric Co based in the city of Yangquan in North China's Shanxi province recently reached cooperation intentions with overseas customers at the three-day Middle East Electricity 2023 in Dubai, the Middle East and Africa's most comprehensive energy exhibition. 

As a large energy equipment enterprise, Shanxi Huaxin Electric Co has continuously launched intelligent products and new energy solutions in recent years, and expanding around the world has become a new target for the company. 

When it comes to the company's global strategy, Hao Huafeng, director of finance at the company, believes that the tax and fee reduction policy in Yangquan is a life saver. 

"The tax and fee reduction provides a strong financial guarantee for the further upgrading of our company's technology, and we reinvest the tax dividends we enjoy into the production and operation of the company, and continue to increase scientific and technological research and development." 

Since 2022, Shanxi Huaxin Electric Co has enjoyed more than 1.7 million yuan ($246,945.59) in VAT relief and more than 2.3 million yuan in corporate income tax relief. 

It has set up an R&D team consisting of more than 30 members and a key R&D center, with its products reaching the international advanced level. 

To help more energy companies like Shanxi Huaxin Electric Co develop, the tax bureau of Kuangqu district in Yangquan has also worked with companies to solve tax-related problems, ensuring that they can fully enjoy tax policy dividends. 

Zhai Guanhua, director of the bureau, said that the bureau will focus on the tax-related needs of advanced manufacturing enterprises, provide more refined, intelligent and customized services, optimize the tax environment in the district, and help reduce the burden on foreign trade enterprises.