China News Agency, Beijing, April 14th: Premier Li Keqiang of the State Council of China hosted an executive meeting of the State Council in Beijing on the 14th, requesting the implementation of detailed support policies for enterprises introduced this year to help enterprises overcome difficulties.
The meeting pointed out that in accordance with the deployment of the Central Committee of the Communist Party of China and the State Council, a series of policies and measures have been issued in a timely manner to support the prevention and control of epidemic diseases, guarantee the supply of enterprises, rescue enterprises and resume production. In terms of tax reduction and fee reduction, we adopted VAT exemption for small and micro enterprises and individual industrial and commercial households, increased the export tax rebate rate of some products, extended the loss-carrying years of enterprises such as transportation and catering and accommodation, phased reduction and exemption of corporate social insurance premiums, and delayed payment of housing Provident funds, exemption of toll road tolls, and reductions in the prices of electricity and gas used by enterprises, plus the last year's tax cuts and fee reduction policies, these can reduce the burden of 1.6 trillion yuan (RMB, the same below) for enterprises. At the same time, the local government's special debt quota of 1.29 trillion yuan was issued in advance according to procedures. In terms of financial support, it provided 3.55 trillion yuan of low-cost funds to financial institutions through three times of RRR cuts, re-loan rediscounts, and used to issue low-interest loans to enterprises. In addition, as of the end of March, the principal and interest of about 880 billion yuan of corporate loans have been implemented extension.
The meeting requested that the next step, on the basis of expanding the implementation of early effective policies, take multiple measures to increase the implementation of active fiscal policies, and pay close attention to the procedures before issuing a certain scale of local government special debt. The study further strengthens financial support for the real economy, especially small and medium-sized enterprises. Help manufacturing and service companies alleviate cost pressures such as rent and labor. Strengthen the protection of underprivileged groups.
The meeting also decided to continue the preferential policies for corporate income tax in the Western Development. In order to further promote the development of the western region and stabilize the long-term development expectations of the enterprise, the meeting decided to reduce the 15% tax rate on enterprise-encouraged industrial enterprises located in the western region due at the end of this year, and extend the implementation period. At the same time, lowering the threshold for enjoying policies will reduce the main business income of encouraged industry projects from the 70% to 60% of the total corporate income limit for the year. (Finish)