19 Highlighted Tasks to Reduce the Costs in 2021 Featured

Wednesday, 19 May 2021 08:28

19 tasks in 8 different fields will be implemented in 2021 mainly to continually help the entities of market out of difficulty and reduce the enterprises cost of real economy. Details are now listing as follows:


Reasonably reduce the burden for tax. Further optimize the tax reduction policy, for small-and-micro enterprises and individual industrial and commercial households with annual taxable income of less than RMB 1 million Yuan, the income tax will be halved based on the current preferential policies. Continue to implement the policy that R&D expenses of enterprise would be 75% deducted, and raise this portion for manufacturing enterprises to 100%. Standardize and reduce enterprise fees in key fields, as average tariff of broadband and special line drop 10% for small-and-medium-sized enterprises. Carry out the benefits as tax and fee deductions, strengthen the supervision and inspection in key fields like intermediary agencies, industry associations and traffic logistics.


Financially support the real economy. Create an appropriate monetary and financial environment, and promote a steady reduction in comprehensive financing costs for enterprises. Guide accurate supports through financial resources, the policy of the inclusive loan debt and financing guarantee fee reduction for small-and-micro enterprises would be continually extended. Optimize financial services for enterprises, work on the unified registration for movable property and rights guarantee, appropriately reduce the fees paid by small-and-micro enterprises.


Focus on trade cost reduction. Promote the "decentralization-control-service", deepen the reform of "license-certificate separation", and apply simple cancellation for small-and-medium-sized enterprises. Revise the Negative List of Market Access (2021 edition) to further reduce the negative list for foreign investments. Keep a fair competition environment, protect property rights equally and strengthen intellectual property protection.


Reasonably reduce the labor costs for enterprises. Continue parts of the interim policies, as one more year of the phased reduction for unemployment insurance and industrial injury insurance rate to the date of April 30th, 2022. Strengthen professional skill and training to improve the quality of workers, and build a number of high-skilled training bases.


Reduce multiple costs for enterprises. As for electricity, allow all manufacturing enterprises to be in the trade market of electricity. As for land, revise and improve the rules for market competition and trade. As for rent of house, it’s encouraged to reduce or exempt the rent for small-and-micro enterprises in the service industry and individual industrial and commercial households which rented state-owned houses in the areas with big impacts of the pandemic.


Reduce costs and increase efficiency for logistics. Cancel or reduce charges for some highways and civil aviation ports, cancel the port construction fees and reduce 20% of the levy standard for airlines of ICAO Development Fund. Continue to reduce the railway freight costs, further introduce the competition mechanism in the market. Improve the infrastructure of transportation and logistics, promote the construction of national logistics hubs, national backbone cold chain logistics bases and comprehensive freight hubs (logistics parks). Optimize the transportation structure, and vigorously promote multimodal transport.


Also, it’s stated that, the efficiency of enterprise capital turnover need to be improved, ensure the timely payment of small-and-medium-sized enterprises. Enterprises are encouraged to explore potential and increase efficiency internally using digital technology, continue to promote the upgrading of equipment and the intelligent production process.


If you want to read the complete article, you can refer to the below link (in Chinese only):


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