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China

Li Keqiang Chairs the Standing Committee of the People's Republic of China and Decides to Further Extend the Time Limit for Delaying Tax Payment in Manufacturing Industry

2022-09-15   

Premier Li Keqiang chaired the executive meeting of the State Council on September 13, and decided to further extend the period of tax postponement and supplementary payment for the manufacturing industry to help enterprises rescue; Determine special refinancing and financial discount to support equipment upgrading in some areas, expand market demand and increase development potential; We will deploy measures to further stabilize foreign trade and foreign capital, and help the economy consolidate its foundation for recovery; Determine measures to optimize the management of the electronic and electrical industry, reduce institutional transaction costs, and more stimulate market vitality; It was decided to approve Fujian Zhangzhou Phase II and Guangdong Lianjiang Phase I nuclear power projects to ensure absolute safety. The meeting pointed out that the key to stabilizing the economy is to ensure market players. The manufacturing industry is the foundation of the real economy, and the market players are facing great difficulties at present. We should strengthen the rescue policy according to the deployment of the Party Central Committee and the State Council. For the "five taxes and two fees" such as the income tax deferred in the early stage by small, medium-sized and micro enterprises in manufacturing industry and individual businesses, the supplementary payment will be delayed for another four months after the expiration of the period from September 1, involving a deferred tax of 440 billion yuan. At the same time, the newly added value-added tax allowance for the manufacturing industry will be refunded upon application, and the average time to the account will be reduced to two working days. It is estimated that a further 32 billion yuan will be refunded to manufacturing enterprises in the next four months of this year. The meeting pointed out that promoting the upgrading and transformation of equipment in areas with weak economic and social development is conducive to expanding the market demand of manufacturing industry, promoting consumption recovery to become the main driving force of the economy, and enhancing the development potential. The meeting decided to renovate equipment in the fourth quarter for manufacturing, service, social service, small and medium-sized enterprises, self-employed businesses, etc., and support national commercial banks to actively lend medium and long-term loans at an interest rate of no more than 3.2%. The People's Bank of China provides special refinancing support to commercial banks at 100% of the loan principal. The amount of special refinancing is more than 200 billion yuan, which should meet the actual needs as much as possible, with a term of one year and two extensions. At the same time, the policy has been implemented. The central government will subsidize the interest rate of 2.5% for the loan entity. The actual loan cost of the loan entity to update and renovate the equipment in the fourth quarter of this year will not be higher than 0.7%. The meeting pointed out that opening up is China's basic national policy. Imports and exports strongly support stable growth and employment. Efforts should be made to stabilize foreign trade and foreign capital. The first is to support the expansion of the market with insurance orders. Strengthen the guarantee of energy, labor and logistics for foreign trade enterprises, and give full support when necessary to ensure compliance. We will accelerate the use of special funds for foreign economic and trade development. Strengthen the service guarantee of outbound exhibition and negotiation. Second, we will promote greater development of new forms of foreign trade, accelerate the establishment of a number of cross-border e-commerce comprehensive pilot areas, and give greater support to the construction of overseas warehouses. Third, improve the efficiency of port collection and distribution and domestic transportation, and ensure fast transfer of import and export goods. Ensure the stability of the industrial chain supply chain. Unreasonable charges for continuous cleaning up of port services. Fourth, strengthen the guarantee of factors and promote the implementation of a number of key foreign investment projects as soon as possible. Further facilitate the entry and exit of foreign business, technical personnel and their families. Fifthly, we should strengthen the responsibility of foreign trade and foreign investment provinces, and better play the role of "the bridge". Relevant departments should strengthen coordination and services. It was pointed out at the meeting that China's electronic and electrical industry is large in scale and has attracted a lot of jobs. It is necessary to stimulate greater vitality with the reform measures of "deregulation, regulation and service". First, cancel the compulsory certification and use license of telecommunication equipment for a batch of products with low security risks and mature technical conditions, so as to facilitate the entry of products into the market

Edit:He Chuanning Responsible editor:Su Suiyue

Source:Xinhua

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