久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Policies boost entrepreneurship and keep economy ticking over

By Wang Yanfei | China Daily | Updated: 2017-06-20 08:35
Share
Share - WeChat

A public servant deals with a tax bill paid through Alipay in Xihu branch of the taxation bureau in Hangzhou, Zhejiang province. [Photo/China Daily]

Tax cuts will be like a shot in arm for corporate China, fueling economic growth as well as forcing the government to keep a tight grip on spending.

Vice-Minister of Finance Shi Yaobin outlined the long-term objectives of easing the VAT burden on companies, pointing out that Beijing could cope with reduced tax revenue.

"The policy reforms on valued added tax (or VAT) will help promote entrepreneurship by lowering the tax burden," Shi said last week after data showed that fiscal spending slowed in May compared to the previous month.

"But the government is able to cope with the challenge of revenue loss by reducing unnecessary spending," Shi added.

Last month, China's tax revenue registered slower growth, increasing by 3.7 percent to 1.61 trillion yuan ($240 billion) compared to the same period last year.

These numbers were down on the 7.8 percent in April and the 12.2 percent increase in March, according to the Ministry of Finance.

Falling VAT returns, which was mainly due to government reform policies, dragged down total tax revenue growth by 8.4 percentage points last month.

"Preferential policies will benefit enterprises in the long run, although it does mean higher pressure on the government," Shi said.

"People should consider more about the positive side of preferential policies-they help stimulate vitality in the company sector.

"Tax cut measures can be particularly helpful for startups, especially amid economic downward pressure," he added.

Shi also stressed that a total of 153 million companies have started up since the reform policies were rolled out in May 2016.

Small-sized firms, with an annual turnover lower than 5 million yuan, have also benefited from lower VAT charges.

Many used to pay a 5 percent tax on sales, but that has since been reduced to 3 percent.

The Ministry of Finance estimated that most companies have seen a 40 percent cut in VAT payments. Liang Hong, chief economist with China International Capital Corporation, believes tax reform will help businesses cut spending, increase revenue and boost employment in the long term.

"More tax reduction policies will help faciliate the recovery of the Chinese economy and in particular the private sector," she said.

Private investment accounts for about 60 percent of total funding, according to the National Statistics Bureau or NBS.

The growth of private investment in the first five months of this year slowed from 6.9 percent between the January and April period to 6.8 percent, data released by the NBS earlier this month highlighted.

This pointed to a slight decline in company investment. "Despite fiscal pressure, China plans to reduce 1 trillion yuan in costs for companies this year," Shi, vice-minister of finance, said.

Along with tax breaks, the latest measures introduced include a reduction in government agency fees in the construction industry, as outlined by a document from the State Council earlier this month.

Many have seen fees cut from 5 percent to 3 percent. The charges are intended to be used to fix building problems during the first two years of a construction project.

"A 2 percentage point cut means a reduced burden for companies," said Li Rusheng, a senior official with the Ministry of Housing and Urban-Rural Development.

The measure will help reduce annual fees by 210 billion yuan.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产综合久久一区二区三区 | 国产精品亚洲第一区柳州莫青 | 99久久成人 | 成人综合在线视频免费观看 | 成人欧美日韩高清不卡 | 国产亚洲精品一区久久 | 国产精品亚洲专区在线播放 | 国产一级在线观看视频 | 一级一黄在线观看视频免费 | 国产日韩不卡免费精品视频 | 欧洲成人全免费视频网站 | 一级黄片一级毛片 | 天堂资源8中文最新版在线 天堂最新版 | 国产原创自拍 | 国产美女一区精品福利视频 | 欧美日产国产亚洲综合图区一 | 在线成人免费 | 亚洲精品一区二区三区不卡 | 日本b站一卡二不卡 | 91久久夜色精品国产网站 | 萝控精品福利视频一区 | 久久久视| 草草伊人| 手机国产日韩高清免费看片 | 最新久久免费视频 | 一级片免费在线播放 | 午夜爱爱毛片xxxx视频免费看 | 狠狠色丁香九九婷婷综合五月 | 精品久久久久亚洲 | 青青草福利视频 | 怡红院免费在线视频 | 国产精品系列在线 | 欧美人一级淫片a免费播放 欧美人与z0z0xxxx | 热伊人99re久久精品最新地 | 久久久久在线观看 | 成人免费一级毛片在线播放视频 | 黄男人和女人色一级 | 亚洲精品国产成人一区二区 | 国产成人一区二区三区免费观看 | 在线观看香蕉免费啪在线观看 | 久久香蕉国产线看观看亚洲片 |