Chinadaily.com.cn
     
    Go Adv Search

    Financial support remains for SMEs

    Updated: 2012-03-07 10:14

    By Wei Tian (China Daily)

      Comments() Print Mail Large Medium  Small 分享按鈕 0

    Financial support remains for SMEs

    Xie Xuren, minister of finance, gives a news conference on the country's financial policies and financial work on the sidelines of the Fifth Session of the 11th National People's Congress in Beijing on Tuesday. [Photo / China Daily]

    Financial support remains for SMEs

    Proactive fiscal policies will continue playing a vital part in supporting the development of smaller businesses, despite a slowdown in fiscal revenue growth, China's Finance Minister Xie Xuren said on Tuesday.

    There was 12.87 billion yuan ($2 billion) invested in development for small and medium-sized enterprises, and the support will continue to expand this year, Xie said at a press briefing in Beijing during the National People's Congress.

    This year will see more structural tax reform, such as an extension of a trial system in Shanghai that replaces sales tax with value added tax to avoid duplicate taxation, as well as a "larger amount of special funding to support technical upgrades for small and micro companies", Xie said.

    The minister also called for an end to irregular administrative surcharges by local governments, and for better mechanisms to protect companies' rights.

    However, Xie revealed that the growth of China's fiscal revenue had slowed to 11 percent in the first two months of this year, while tax revenue alone only increased by 8 to 9 percent.

    The total annual fiscal revenue growth in 2011 soared to 24.8 percent year-on-year.

    "The rapid growth of fiscal revenue in recent years was based on increasing profits by companies, as well as being affected by inflation factors," Xie said, adding that higher prices contributed about 10 percent to tax revenue last year.

    To solve the funding shortage faced by many SMEs, Xie said, the government is studying "policies to foster healthy development of the financial guarantee sector to allow more credit aid from finance institutions to smaller businesses".

    "There is also a development fund to encourage venture capital and other social funds to increase their support for small and micro enterprises," he said.

    A series of other tax reforms are also under way to facilitate the transformation of the country's economic structure.

    Xie said the government is studying "expanding the scope of its property tax trials", which have been implemented in Shanghai and Chongqing since the beginning of last year.

    "Property tax can lead to a reasonable housing demand as well as adjusting the imbalance in income distribution," Xie said.

    But he did not say in which cities the trial would be extended.

    Xie also demanded that local governments should coordinate their financial resources and set up local funds to effectively repay debts, which totaled 10.7 trillion yuan in late 2010.

    There also should be "different treatments for projects under construction according to their importance. And follow-up financing for the priority projects should be guaranteed," he said.

    Structural tax cuts, a major part of fiscal policy this year, were applauded by many entrepreneurs.

    Li Dongsheng, chairman of TCL Corp and an NPC deputy, said more tax cuts and less administrative charges will help businesses through a tough time as well as bring down inflation.

    Li suggested that if the government were to refund income tax paid on reinvestment in development, it would encourage companies to improve innovation.

    As for administrative charges, "some of these were introduced when the government budget was tight. But as fiscal revenue growth has been restored, it's totally feasible to put them into the government's budget system", he said.

    weitian@chinadaily.com.cn

    久久久无码精品午夜| а中文在线天堂| 99re只有精品8中文| 精品亚洲A∨无码一区二区三区| 一区二区中文字幕| AV无码免费永久在线观看| 中文字幕有码无码AV| 91视频中文字幕| 亚洲不卡无码av中文字幕| 久久久久亚洲av无码专区导航| 亚洲伊人久久综合中文成人网 | 成人无码A区在线观看视频| 亚洲av中文无码乱人伦在线咪咕| 国产精品99精品无码视亚| 亚洲国产无套无码av电影| 中文字幕亚洲无线码| 最近中文字幕视频在线资源| 亚洲中文字幕无码久久综合网| 18禁无遮拦无码国产在线播放| 无码精品人妻一区二区三区中| 四虎影视无码永久免费| 乱人伦中文视频高清视频| 亚洲欧美中文日韩在线v日本| 99在线精品国自产拍中文字幕| 无码AV动漫精品一区二区免费| 成人无码区免费A∨直播| 国产真人无码作爱视频免费| 国产精品无码AV一区二区三区| 无码国产精品一区二区免费16 | 亚洲AV无码专区亚洲AV伊甸园| 人妻系列AV无码专区| 日韩精品无码免费专区网站| 欧美中文字幕无线码视频| 亚洲看片无码在线视频| 色多多国产中文字幕在线| 国产中文字幕在线免费观看| 亚洲天堂中文资源| 无码任你躁久久久久久老妇App | 7777久久亚洲中文字幕| 亚洲中文字幕久久精品无码喷水| 日本妇人成熟免费中文字幕|