China News Agency, Beijing, July 23rd: Retaining "Green Mountains" How does China activate the confidence of market players?
China News Agency reporter Chen Kangliang
More than 160 million market entities are the cornerstone of China's economy.
Since the beginning of this year, in order to cope with the adverse effects of the repeated outbreak of the new crown pneumonia, Chinese officials have issued a series of tangible policy "gift packages" to do everything possible to stabilize market players, enhance their confidence, and ensure that the majority of market players have "green hills." China's economy is "full of vitality".
Putting funds in "timely rain"
For market players, especially small, medium and micro enterprises, capital is the rain that nourishes the "green hills". Sufficient capital will help boost corporate confidence and help companies grow.
At the end of May, the State Council of China issued the "Package of Policies and Measures for Solidly Stabilizing the Economy", which included a number of policies such as "increasing support for inclusive small and micro loans" and "increasing government procurement to support small and medium-sized enterprises".
In early June, the China Banking and Insurance Regulatory Commission issued a document requiring banking institutions to promptly meet the reasonable and effective credit needs of enterprises in industries temporarily trapped by the epidemic, and strive to achieve sustained and steady growth in credit balances in industries severely affected by the epidemic, such as accommodation and catering.
In addition, since the beginning of this year, the People's Bank of China has twice guided the loan market quoted interest rate (LPR) to decline, and launched a number of structural monetary policy tools to guide financial institutions to increase credit support for small, medium and micro enterprises.
The above measures are yielding positive results.
According to the report on the progress of the "Micro-Assistance Program" released by the All-China Federation of Industry and Commerce on July 5, the interest cost of loans received by small and micro enterprises from financial institutions this year decreased by 36 basis points from the previous month; The proportion of enterprises increased by 37% month-on-month.
More than 40% of small and micro enterprises said that their business conditions have improved, and more than 60% of small and micro enterprises are optimistic about their business expectations in the second half of the year.
Dong Ximiao, chief researcher of China Merchants Union Finance, pointed out that due to the repeated epidemics and other factors, some market players in China have increased operating pressure this year.
Financial institutions should properly optimize the allocation of financial resources while adhering to business sustainability and overall risk control, so as to better meet the needs of the real economy, especially industries that have been greatly affected by the epidemic, and increase the support for small and micro enterprises and other market players. Relief efforts.
Install the tax "relief valve"
Since the beginning of this year, in order to cope with the downward pressure on the economy and help enterprises "lightly pack", China has implemented a new combined tax and fee support policy, including delaying the payment of some taxes and fees for small, medium and micro enterprises in the manufacturing industry, and implementing large-scale value-added tax credits and tax refunds.
According to data from the State Administration of Taxation, as of June 25, the country has accumulatively added about 2.58 trillion yuan in tax rebates, tax reductions, fee reductions, and tax deferrals.
Xpeng Motors is a well-known new energy vehicle company in China.
Under the impact of the epidemic, the auto market was sluggish, and Xiaopeng Motors once faced a shortage of production funds.
Tang Kangkang, chief financial officer of Xiaopeng Motors Group, said that since the beginning of this year, Xiaopeng Motors Group has received more than 100 million yuan in value-added tax credits and rebates, which has greatly eased the financial pressure.
There are many manufacturing companies that have benefited similarly.
According to Wei Yan, deputy director of the Department of Taxation and Administration of the Ministry of Finance, this year China will implement large-scale tax rebates in advance for the amount of tax credits, giving priority to small and micro enterprises, and focusing on supporting the manufacturing industry.
Starting from April 1, the policy scope of the monthly full refund of incremental VAT credits will be extended to eligible small and micro enterprises and enterprises in 6 industries including the manufacturing industry, and a one-time refund will be made to small and micro enterprises and the manufacturing industry The remaining tax credits of enterprises in 6 industries.
Li Xuhong, director of the Institute of Fiscal and Taxation Policy and Application of Beijing National Accounting Institute, said that the tax and fee reduction policy implemented this year has adopted various methods such as tax reduction, tax exemption, tax deferral and tax rebate, and has targetedly benefited multiple industries and various markets. The main body has produced positive results.
Be a good warm company "shop second"
The healthy growth of market players requires not only their own efforts, but also a good business environment.
Since the beginning of this year, the Chinese government has accelerated the reform of "delegating power, delegating power and improving services", striving to improve the quality and efficiency of services, and being the "Second Shopkeeper" of helping enterprises warmly and comfortably.
In response to the outstanding quality problems found in the quality and safety supervision, the State Administration for Market Regulation of China has deployed and carried out the action of "improving quality and strengthening enterprises" with quality and technical assistance, promoting the improvement of the quality management level of market entities and improving the quality of product supply.
Statistics show that by the end of June, the quality and technical assistance of market supervision departments at all levels across the country had covered more than 18,000 enterprises, of which more than 90% were small, medium and micro enterprises.
In addition, in order to further increase support for individual industrial and commercial households, the State Administration for Market Regulation has established and operated the "National Individual and Private Economic Development Service Network", providing hundreds of millions of market entities with a convenient channel to understand, apply for and enjoy preferential policies. .
In addition to the active implementation of policies by the central departments, the local governments also "show their magical powers".
Fujian has legislated to optimize the business environment, set exemptions, exempt or reduce responsibilities, and encourage local and various departments to make bold innovations and breakthroughs in optimizing the business environment; Beijing has strengthened anti-monopoly compliance guidance, guiding enterprises to establish and improve anti-monopoly compliance management systems, and consciously Standardize business behavior and protect the living space of small, medium and micro enterprises; Hainan improves the efficiency of foreign investment administrative licensing, implements the notification and commitment system for foreign investment administrative licensing, and optimizes foreign investment services...
With the support of policies, the majority of market players have shown strong resilience despite encountering new challenges this year.
According to official statistics, as of the end of May this year, there were 159 million registered market entities nationwide, an increase of 3.6% over the end of 2021.
Yu Jun, director of the press and publicity department of the State Administration for Market Regulation, said that with the effective prevention and control of the epidemic and the continuous development of policy effects, the development of market entities will be strongly supported, providing a strong micro-foundation for the macroeconomic fundamentals.
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