China pulls back tax breaks for foreign companies - Mar. 27, 2015

China is ordering local governments to roll back tax breaks promised to foreign businesses.



Chinese cities have been offering incentives such as lower land prices and tax breaks in recent years to attract foreign investment. It worked: $120 billion poured into China in 2014, and giant multinational firms such as Starbucks (SBUX) and Intel (INTC, Tech30) have set up shop over the years.



China pulls back tax breaks for foreign companies - Mar. 27, 2015