Notice of the Ministry of Finance and the State Administration of Taxation on Enterprise Income Tax Policy Issues Concerning Asset Appreciation During the Restructuring and Reform of China Communications Construction Group Co., Ltd.

This document clarifies that the asset appraisal appreciation of 7.96 billion yuan arising from the restructuring and listing of China Communications Construction Group is exempt from enterprise income tax, and allows the company to deduct depreciation or amortization based on the appraised asset values for tax purposes.