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Chinese dictionary
n.substitution of tax payment for profit; tax payments (made by state-owned enterprises) instead of profit deliveries to the state
它在经历了放权让利、利改税、承包制以后,积累了不少宝贵的经验,取得了显著的成效。
After it experienced decentralization and interest concessions, substitution of tax payment for profit delivery and contract-system, it accumulated a lot of valuable experience and achieved remarkable performance.