Beijing has implemented a series of measures this year to support the growth of and alleviate the burden on small and medium-sized enterprises (SMEs).

Key policies include comprehensive tax incentives and value-added tax reductions benefiting 747,000 taxpayers, and income tax incentives benefiting 129,000 small and micro businesses

From the January-October period, these efforts had led to a total of 77.9 billion yuan ($10.88 billion) in tax and fee cuts, tax rebates, and payment deferrals, according to official figures.

Additionally, the city has seen a substantial increase in small and micro-business loans, with the balance reaching 830 billion yuan by the end of September, an increase of 21% compared to the beginning of this year.

These efforts are part of Beijing's ongoing drive to boost market confidence and ensure the sustainable and healthy development of businesses, said Yang Jingguo, an official responsible for SME-related affairs at the Beijing Municipal Bureau of Economy and Information Technology.

Related

Go to Forum >>0 Comment(s)