1. According to the Announcement of the Ministry of Finance in State Taxation Administration of The People's Republic of China on Continuing to Promote Preferential Policies for Cultural Value-added Tax (AnnouncementNo.: 10 of the Ministry of Finance and State Taxation Administration of The People's Republic of China), from 202 1 1 in February to 2023 1.

2. According to Article 2 of the Announcement of State Taxation Administration of The People's Republic of China of the Ministry of Finance on Continuing to Implement Preferential Policies for Promoting Cultural Value-added Tax (Announcement No.60 of State Taxation Administration of The People's Republic of China of the Ministry of Finance in 2023), the value-added tax in book wholesale and retail will be exempted before Feb. 3, 2027.