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Li Keqiang presides over the State Council executive meeting

Request to implement and refine the supportive policies and measures for enterprises introduced since the beginning of this year to help them overcome difficulties

Deploying effective measures to promote employment of college graduates

Determine to increase the renovation efforts of old urban residential areas, promote the improvement of people's livelihoods, and expand domestic demand

Decided to continue the preferential income tax policy for enterprises in the Western Development Project

On April 14th, Premier Li Keqiang presided over a State Council executive meeting, calling for the implementation and refinement of policies and measures to support enterprises that have been introduced since the beginning of this year, in order to help enterprises overcome difficulties; Deploying effective measures to promote the employment of college graduates; We will increase efforts to renovate old urban residential areas and promote the expansion of domestic demand by benefiting the people; Decided to continue the preferential income tax policy for enterprises in the Western Development.

The meeting pointed out that in accordance with the deployment of the Party Central Committee and the State Council, a series of policy measures have been timely introduced this year to support epidemic prevention and control, supply guarantee, enterprise relief, and resumption of work and production. In terms of tax reduction and fee reduction, measures have been taken to exempt small and micro enterprises and individual businesses from value-added tax, increase the export tax rebate rate for some products, extend the period of loss carryover for transportation, catering, accommodation and other enterprises, temporarily reduce enterprise social security fees, defer payment of housing provident fund, exempt toll road tolls, and reduce enterprise electricity and gas prices. In addition, last year's tax reduction and fee reduction policies have been postponed, which can reduce the burden of enterprises by 1.6 trillion yuan. At the same time, according to the procedure, the special debt amount of local governments for this year was issued in advance, reaching 1.29 trillion yuan. In terms of financial support, 3.55 trillion yuan of low-cost funds have been provided to financial institutions through three reserve requirement ratio cuts, refinancing and rediscounting, for issuing low interest loans to enterprises. In addition, as of the end of March, about 880 billion yuan of enterprise loan principal and interest have been postponed. Next, on the basis of expanding the effective policies implemented in the early stage, we should take multiple measures to increase the implementation of proactive fiscal policies, and promptly issue a certain scale of local government special bonds in advance according to procedures. Further strengthen financial support for the real economy, especially for small and medium-sized enterprises. Assist manufacturing and service industry enterprises in alleviating cost pressures such as rent and labor. Strengthen the safety net for disadvantaged groups.

The meeting pointed out that college graduates are the future of the country and the new force in the construction of the motherland. The number of graduates this year has reached a new high, and the employment situation has become even more severe due to the impact of the epidemic. We must increase efforts to support stable enterprises, expand job opportunities, and attract graduates for employment. Strengthen support for entrepreneurship guarantee loans, vigorously promote mass entrepreneurship and innovation, and drive the development of new business models and flexible employment. Secondly, we need to develop research assistant positions and enrich the team of grassroots teachers and medical staff. More market-oriented methods will be adopted, and the government will provide policy support to encourage graduates to start businesses and find employment around various community service needs. Thirdly, we need to strengthen employment services. Research policies such as deferred repayment of student loans and effective use of unemployment insurance funds, and provide preferential support to unemployed graduates from disadvantaged families. Implement special support policies for the employment of graduates from Hubei universities.

The meeting pointed out that promoting the renovation of old urban residential areas is an important measure to improve residents' living conditions and expand domestic demand. This year, various regions plan to renovate 39000 old urban residential areas, involving nearly 7 million households, doubling from last year, with a focus on residential areas built before the end of 2000. Each region should take overall responsibility and focus on renovating and improving community facilities and municipal infrastructure according to residents' wishes, in order to enhance the level of public services such as elderly care, childcare, and medical care in the community. Establish a mechanism for the government, residents, and social forces to reasonably share the funds for renovation, with subsidies from the central government and preferential support from local government special bonds, encouraging social capital to participate in renovation operations.

In order to further promote the development of the western region and stabilize the long-term development expectations of enterprises, the meeting decided to extend the implementation period of the policy of reducing the corporate income tax rate by 15% for national encouraged industrial enterprises located in the western region that will expire at the end of this year. At the same time, the threshold for enjoying policies will be lowered, and the limit on the proportion of main business income to total enterprise income for encouraged industrial projects in the current year will be reduced from 70% to 60%.


Information source: China Government website

Editor of this website: He Yang/Organizing

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