BEIJING -- China on Tuesday introduced a number of preferential tax and fee policies to support the healthy development of the capital market.

The preferential policies, including individual income tax and value-added tax exemptions or cuts, were jointly issued by the Ministry of Finance and related departments.

The policies are aimed at promoting the two-way opening-up and healthy development of the capital markets on the Chinese mainland and Hong Kong, supporting the opening-up of the goods futures market, ramping up the implementation of the innovation-driven development strategy and boosting the development of venture capital enterprises, according to the ministry.

Valid until the end of 2025 or 2027, the policies are conducive to supporting the opening-up of the capital market and promoting its sustained and healthy development.

Working with related departments, the ministry has released 10 preferential tax and fee policies to support smaller and private businesses.