2010-06-25 10:53

China will provide subsidies for firms exporting technology services and software, the country's Ministry of Finance said on Thursday.

In a statement posted on its website, the ministry said export deals exceeding $100,000 which received letters of foreign exchange payment from banks last year are eligible to apply for the subsidy.

The subsidy rate will be up to the one-year loan rate announced most recently by China's central bank. A company can receive up to 5 million yuan ($736,420), the statement said.