The government strengthens support for molds

In order to support the healthy development of small and micro enterprises in China, the country will help small and micro enterprises by improving fiscal and tax support policies, efforts to ease financing difficulties, speed up technological transformation, and strengthen service and management.

The meeting called for earnestly implementing various fiscal and taxation and financial support policies determined by the State Council’s daily meeting on October 12, 2011, raising the VAT and business tax thresholds, and extending the policy of halving corporate income tax for small and micro enterprises to the end of 2015 and expanding the scope. Contracts for loans signed between financial institutions and small and micro enterprises will be exempted from stamp tax within three years, extending the pre-tax deduction policy for loan loss reserves until the end of 2013; and the growth rate of loans for small and micro enterprises by banking financial institutions shall be no less than the average increase in total loans. Speed ​​up the implementation of lower deposit reserve ratios for small financial institutions that meet the requirements, and appropriately increase the tolerance for non-performing loans for small and micro enterprises.

For improving fiscal and taxation support policies, there are not only 15 billion central fiscal funds. A certain percentage of government procurement arrangements are dedicated to small and micro enterprises. The small and micro enterprises will be exempted from administrative fees for certain types of management, registration, and licenses within three years. Accelerate the promotion of business tax levy VAT pilots and improve structural tax cuts.

Other measures include establishing a credit assessment system for small businesses. Support qualified commercial banks to issue financial bonds that are specifically used for small and micro business loans. Accelerate the development of small financial institutions, appropriately relax the conditions for private capital, foreign capital, and international organizations to participate in the establishment of small financial institutions, and relax the restrictions on the proportion of single investor holdings of small loan companies. Eligible small loan companies can be converted into rural banks. Support small-scale micro-enterprise listing and financing. Continue to levy business tax on qualifying SME credit guarantee agencies.

The central government will expand the scale of technological transformation funds and focus on supporting small and micro enterprises in applying new technologies, new processes, and new equipment. Improve corporate research and development expenses before the income tax deduction policy, support technological innovation. Encourage qualified small and micro enterprises to participate in R&D of key technologies for industrial commons, national and local science and technology projects, and standard setting. Implement the plan to establish a small business, cultivate and support 3,000 small business startup bases.

Support small and micro enterprises to participate in exhibitions and exhibitions at home and abroad, provide qualified customs clearance for enterprises that meet the requirements, and simplify processing trade domestic sales procedures. For small and micro enterprises recruiting college graduates to provide training fees and social insurance subsidies. Establish and improve the statistical investigation, monitoring analysis and periodical release system for small and micro enterprises. Accelerate the establishment of a corporate credit system and promote the collection of corporate credit information and the assessment of credit ratings. Implement corporate safety production and product quality main responsibility, improve the management level of small and micro enterprises.

According to Luo Baihui, secretary-general of the International Mould, Hardware and Plastics Industry Suppliers Association, the above information is for the domestic small and medium-sized mold enterprises, the 15 billion central financial development fund is bound to be a part, especially during the 12th Five-Year period. The investment in transformation and upgrading is increasing, and the momentum of the development of China's mold industry is bound to give more support to this block. In addition, there are local encouragement policies and national policy support in different regions. This is very good news for the support of funds. With the government's fiscal care for SMEs, companies will also reduce their product sales and compete with large companies, and their living space will be further expanded.

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