The Ministry of Finance and State Administration of Taxation have promulgated new tax policies in May 2nd 2017. The policies are valid in 2017, 2018, and 2019. There are two policies relevant for Hi-tech companies.
The first is a deduction of R&D expenses in China. Originally companies could deduct 50% of their R&D expenses from taxable income, and count them as 150% for amortization. Under the new policy, if a company applies for a classification as hi-tech SMEs, the percentages are raised to 75% and 175% respectively.
The second is a deduction of 70% of an investment of Venture Capital in hi-tech SMEs, now also valid for angle investors.
For more information (Chinese) see for example http://hq.gdltax.gov.cn/hqxqtax/100028001007003/2017-08/09/content_17ec5fbe19ea43c6b26cf9346342b2bf.shtml .