The fiscal and tax policies on the development of GMOs for agriculture in China: retrospect, status quo and prospect

The authors study the fiscal and tax policies on GMOs for agriculture in China, mainly focusing on income tax and value added tax, in order to analyze how the polices implement Chinas GMO strategy in the field of agriculture, reflect the development history of GMOs for agriculture in China and give suggestions on perfection for future policies based on Chinas GMO strategy. 
Firstly, the authors illustrate Chinas past and present strategy for GMO technology application. As a whole, China permits the technical research on GMOs for agriculture, promotes very cautiously the related industrialization, and attaches great importance to safety supervision. 
Secondly, by examining the past and present fiscal and tax policies relating to the above-mentioned GMO strategy, the basic features of Chinas policies are as follows: in terms of fiscal policy, the financial funds have been invested in GMO development and supervision in a bidirectional and balanced way; in terms of tax policy, there are some tax incentives, but the ones solely for GMO development and supervision are few. 
Finally, the fiscal and tax policies are important and necessary tool to implement GMO strategy. Chinas future fiscal and tax policies need to be adapted to the future GMO strategy at issue.