On February 14, Premier Li Keqiang chaired an executive meeting of the State Council to set measures to promote the continued development of the industrial economy and the relief and developm

On February 14, Premier Li Keqiang chaired an executive meeting of the State Council to set measures to promote the continued development of the industrial economy and the relief and development of industries with special difficulties in the service industry. 

The meeting pointed out that industry and service industries play a major supporting role in economic growth and stable employment. At present, the steady recovery of the industrial economy is still not solid, and the service industry has some special difficulties due to the impact of the pandemic. Immediate measures should be introduced in the near future to increase support. 

The first of these is to reduce income taxes and increase exemptions for industrial and service industries. This year, the depreciation of tools and equipment worth more than 5 million yuan for small and medium-sized enterprises will be deducted for 3 years, and the depreciation 4-year, 5-year, 10-year deduction will be halved . Extend the tax deferred policy to small, medium and micro enterprises in the manufacturing industry. Extending the scope of application of the local "six taxes and two duties" reduction and exemption policy to all small and less profitable enterprises and individual industrial and commercial houses. 

The second is to guide and strengthen financial services. The People’s Bank of China provided stimulus funds to support the growth of inclusive micro and micro credit, etc., to promote the rapid development of medium and long-term credit in the manufacturing industry, and to promote the stability of wider financing costs for enterprises. 

The third is to promote the strengthening of the manufacturing chain and the rebuilding of the industrial base, accelerating the construction of new infrastructure, technological transformation of energy conservation and carbon reduction in key sectors, etc., and expanding effective investment. <p />

Fourth, for industries with particular hardships such as catering, retail, tourism, and passenger transport, we increased support in terms of periodic tax reductions and exemptions, and deferred payments of some social security premiums, so as to promote stable employment and consumption recovery It can be done. In 2022, public transport services such as buses and long-distance passenger transport, passenger ferries, taxis and other public transport services will be exempt from VAT. Continue to temporarily refund tourist service quality deposits in the proportion of 80%. For small and micro enterprises in the service industry and individual industrial and commercial houses that lease government-owned houses, this year, they are listed as 6-month rent reductions in high-risk areas of the epidemic , and listed as a 3-month rent reduction in other areas. All localities can provide appropriate support to small and micro enterprises in the service industry and individual industrial and commercial households that rent non-state-owned households; For homeowners whose rents have been reduced or waived, this year's property taxes and urban land use taxes have been reduced or waived in accordance with the regulations. 

The first executive meeting of the Council of State after the Lunar New Year focused on the theme of "stabilizing growth at the beginning of the year," and a package of relief and assistance policies included tax relief, financial assistance, and investment expansion. 

Above the size set in 2021, the added value of industrial enterprises will grow by an average of 6.1% over two years, exceeding the cumulative growth rate in 2019 (5.7%). However, due to the high growth of industrial production, exports are growing faster than expected in 2021. With the improvement in foreign production capacity, our country’s exports face more uncertainty this year. In addition, factors such as high-level operations of bulk commodities, core shortages in the automobile industry, and shipping restrictions impact some industries still have difficulties, industry profitability varies, and… downstream small, medium and The profitability of micro enterprises has been squeezed significantly. 

The service industry is currently the main force in employment, and the information industry and financial industry are moving against the trend, but many contact service industries are still affected by the epidemic, including travel, catering, accommodation, retail and other industries is included. In 2021, national catering revenue will be about 4.69 trillion yuan, with an average growth rate of 3.9% over two years. Although it has surpassed pre-pandemic levels in 2019, its growth rate is relatively low. As we enter 2022, there are periodic domestic epidemics, and rescue policies for these particular industries must be strengthened. 

Judging from the State Council's package of policies, tax and fee reduction policies are mostly focused on small, medium and micro entities