The foreign investment enterprises

The benchmark equilibrium

25% unified income tax rate

Income tax rates (%)

FDI

FDI

5

8744.049744

8832.718905

6

8832.150668

8895.295596

7

8920.539537

8957.935578

8

9009.229558

9020.549606

9

9098.180293

9083.214998

10

9187.392769

9145.868756

11

9276.852058

9208.535378

12

9366.512212

9271.208728

13

9456.396866

9333.90618

14

9546.472269

9396.606904

15

9636.704

9459.329878

16

9727.042143

9522.050385

17

9817.569633

9584.791624

18

9908.188325

9647.554158

19

9998.883755

9710.29528

20

1.01E+04

6097.858357