China exempts foreign investors from bond market taxes

SHANGHAI (Reuters) - Foreign investors in China's onshore bond market will be exempt from taxes for the next three years, China's Ministry of Finance said Thursday.

The ministry said the tax exemptions on profits from earned interest income went into effect on Nov. 7, 2018, and would be effective until Nov. 6, 2021.

China previously announced it would waive taxes for offshore investors in the country's bond market for three years, but did not specify when the exemption period would start.

(Reporting by Andrew Galbraith; Editing by Simon Cameron-Moore)