BEIJING (Reuters) - China has removed a tariff imposed on drilling equipment used in 20 oil and natural gas prospecting fields in western China in a move to boost oil production, the Ministry of Finance said on Friday.
The tax reduction, to be applied until Dec. 31, 2020, applies to oil blocks and natural gas reserves in four regions including Xinjiang, Inner Mongolia, Tibet and Qinghai province, the ministry said.
For jointly developed oil fields, China also removed valued added tax for over 100 types of equipment, it said.
(Reporting by Meng Meng; Editing by Kenneth Maxwell)
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