Wen Jiabao organizes State Council executive meeting

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Premier Wen Jiabao of the State Council presided over an executive meeting of the State Council on the 12th to study and determine financial, fiscal and taxation policies and measures to support the development of small and micro enterprises.


"China Securities Journal" reported that the meeting pointed out that small and micro enterprises play an irreplaceable role in promoting economic growth, increasing employment, technological innovation, and social harmony and stability. At present, some small and micro enterprises have difficulties in operating, financing difficulties and heavy tax burden, which must be paid close attention. It is necessary to strengthen financial services and fiscal and tax support, mainly increase support for the real economy such as science and technology, service and processing industries that are in line with national industrial and environmental protection policies and can absorb employment, and guide and help small and micro enterprises to operate steadily, enhance profitability and development. stamina.


The meeting studied and identified policy measures for financial support for the development of small and micro enterprises:


(I) increased credit support for small and micro enterprises. The growth rate of loans to small and micro enterprises by banking financial institutions is not lower than the average growth rate of all loans, and the increase is higher than the level of the same period last year. Small financial institutions that meet the requirements continue to implement a lower deposit reserve ratio. Commercial banks focus on increasing credit support for small and micro enterprises with a single credit of less than 5 million yuan. Strengthen loan supervision and end-user monitoring to ensure that it is used for the normal production and operation of small and micro enterprises.


(II) clean up and correct unreasonable charges for financial services, and effectively reduce the actual cost of enterprise financing. Except for syndicated loans, commercial banks are prohibited from charging commitment fees and fund management fees for loans to small and micro enterprises. Strictly restrict commercial banks from charging small and micro enterprises financial advisory fees, consulting fees and other fees.


(III) broaden the financing channels for small and micro enterprises. Gradually expand the scale of issuance of collective bills, collective bonds and short-term financing bills for small and micro enterprises, and actively and steadily develop financing tools such as private equity investment and venture capital. Further promote the construction of exchange markets and over-the-counter markets, and improve the environment for equity pledge financing for small and micro enterprises. We will actively develop loan guarantee insurance and credit insurance for small and micro enterprises.


(IV) refine the differentiated regulatory policies for financial services for small and micro enterprises. For small micro-enterprise loan balance and the number of customers more than a certain proportion of commercial banks to relax institutional access restrictions, allowing them to bulk preparation for the establishment of urban sub-branches and franchised institutions outlets. Loans to small and micro enterprises with a single household of less than 5 million yuan corresponding to the issuance of financial bonds by commercial banks may not be included in the scope of assessment when calculating the loan-to-deposit ratio. Commercial banks are allowed to calculate the risk weight of small micro-enterprise loans with a single-family credit of less than 5 million yuan as retail loans, so as to reduce the capital occupation. Appropriately increase the tolerance for the non-performing rate of loans to small and micro enterprises.


(V) promote the reform and development of small financial institutions. Strengthen the market positioning of small financial institutions to focus on serving small and micro enterprises, communities, residents and the "three rural areas. Promote the establishment of new rural financial institutions on the basis of prudential supervision, guide small financial institutions to increase service outlets, and extend institutions to counties and townships within their jurisdiction.


(VI) promote the healthy development of private lending on the basis of standardized management and risk prevention. Effectively curb the tendency of private lending to usury, and crack down on illegal activities such as illegal fund-raising and financial pyramid schemes in accordance with the law. Strict supervision, prohibiting financial practitioners from participating in private lending. Financial support for small and micro enterprises should be carried out in accordance with market principles, reduce administrative intervention, and prevent credit risk and moral hazard.


The meeting studied and identified policy measures for fiscal and tax support for the development of small and micro enterprises:

 

(I) increased tax support for small and micro enterprises. Increase the value-added tax and business tax threshold for small and micro enterprises. The policy of halving the corporate income tax for small and low-profit enterprises will be extended to the end of 2015 and expanded. The qualified national public technology service demonstration platform for small and medium-sized enterprises will be included in the scope of preferential tax policies for the import of science and technology development supplies.

 

(II) support financial institutions to strengthen financial services for small and micro enterprises. Financial institutions are exempt from stamp duty for three years on loan contracts to small and micro enterprises. Extend the pre-tax deduction policy for loan loss reserves for financial enterprises to the end of 2013. The policy of reducing the business tax by 3% on the financial insurance income of eligible rural financial institutions will be extended to the end of 2015.

 

(III) expand the scale of special funds for small and medium-sized enterprises, and use more indirect methods to support small and micro enterprises. Further clean up the cancellation and reduction of some of the fees related to enterprises.
 

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