The news that qualified enterprises in the Pingtan Comprehensive Pilot Zone can get an 85-percent deduction in income tax has made media headlines, with pundits all agreeing the move will turn Pingtan into one of the most policy-favored regions in eastern China.

The policy was officially announced by the Ministry of Finance and State Administration of Taxation on March 27, allowing 127 industries and businesses in five main categories to be levied at a reduced income tax rate of 15 percent.

The State-owned Xinhua News Agency published a story breaking down the profound impact the policy will have on the more than 140 Taiwan enterprises in Pingtan. It commented that as the enterprises face the pressure of transformation and upgrading, the favorable tax cut will guide them in their planning and boost the growth of a high-end industrial system.

China News Service commented in its report that the policy will accelerate industrial integration, especially in electronic information, logistics, cultural tourism and marine industry, between the mainland and Taiwan.

Fujian Daily put the news in a prominent slot on the front page, and even published a complete catalogue of industries and businesses eligible for the tax deduction on Page 2.

Fujian Satellite TV said in its news program that the hefty tax cut will make Pingtan a place with the most favorable tax policy in East China.

Strait News echoed by saying the policy will attract more enterprises to make an investment in Pingtan.

Major Chinese web portals such as NetEase, Ifeng, Sina and Sohu forwarded the good news soon after its release.

Edited by Chen Zhilin and Nelly Min