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Government policy moves in the past week (April 30 — May 6)

Updated: May 6,2017 7:36 PM

Major tasks in healthcare reform

The central government has detailed major tasks for a healthcare reform, to be completed throughout 2017, in a circular issued by the State Council on May 5.

The document listed 56 tasks, which focused on setting up diversified medical services and making quality medical care more accessible.

According to the circular, China will expand its tiered medical system, and contract-based family doctor services, to 85 percent of prefecture-level cities.

Details:>> China details major tasks in healthcare reform

Efforts in disaster relief enhanced

China’s natural disaster relief system will be further enhanced through raising subsidies for victims and speeding up reconstruction of damaged residential buildings, according to the State Council executive meeting held on May 3.

The meeting decided to adopt a standardized subsidy system in accordance with various market factors such as fluctuating commodity prices. Meanwhile, compensation for families of dead victims, living allowance for transitional period and subsidy for reconstruction will be greatly improved.

Details:>> China reinforces efforts in disaster relief

Promote private healthcare services

The State Council executive meeting on May 3 clarified measures to promote the development of private medical institutions and healthcare tourism. Simplified approval procedures will be granted to founding private GP clinics, medical laboratories and rehabilitation care centers.

The government will encourage social capital to be invested in the integration of healthcare, tourism and elderly care services, and develop high-end medical care, traditional Chinese medicine healthcare, rehabilitation and healthcare tourism.

Details:>> China to promote diversified healthcare

Large commercial banks urged to set up inclusive finance divisions

China’s large commercial banks should set up inclusive finance departments in 2017 to support small companies, agriculture, poverty relief and entrepreneurship, according to a statement following a State Council executive meeting on May 3.

Their lending to small and micro enterprises should rise no slower than growth in all loans, the statement said.

Banks should tolerate a reasonably higher nonperforming loan ratio for lending to small and micro enterprises, agricultural sectors and poverty alleviation, according to the statement.

Details:>> China requires large banks to set up inclusive finance divisions in 2017

SOEs management to be improved

On May 3, the State Council issued a circular to improve the legal personnel management structure and modern corporate system of State-owned enterprises (SOEs).

The SOEs’ corporate reform will be completed by the end of 2017, according to the State Council.

Details:>> State Council to improve SOEs management

More subsidies for medical insurance

A notification jointly issued by the Ministry of Human Resources and Social Security and the Ministry of Finance, has stated per capita subsidies for medical insurance in 2017 will be raised by 30 yuan, reaching 450 yuan each year.

The per capita payment for medical insurance in both rural and urban areas will also be increased by 30 yuan, reaching 180 yuan a year.

VAT structure to be streamlined

A notice released by the Ministry of Finance and the State Administration of Taxation has revealed the four-tiered value-added tax (VAT) structure is set to be streamlined into three levels from July 1, 2017, with the 13 percent of tax rate being removed. An 11 percent of tax rate will also be applied for selling or importing goods, such as agricultural products and natural gas.

Preferential policies for taxpayers with commercial health insurance to be expanded

The Ministry of Finance, State Administration of Taxation and the China Insurance Regulatory Commission have issued a circular to expand tax preferential policies for taxpayers with commercial health insurance nationwide from July 1, 2017.

It clearly stated that for purchasers of applicable commercial health insurance products, at most 200 yuan per month, or 2,400 yuan each year, will be deducted before they pay personal income taxes. The policy also applies to health insurance products purchased by companies for their employees.

Details:>> China to offer tax incentives for individual health insurance buyers

Web links, QR codes of extra curriculum materials forbidden in school textbooks

According to a notice issued by the Ministry of Education on May 2, web links and QR codes of extra curriculum teaching materials will be forbidden in middle and primary school textbooks. The notice stated special education schools should also use new textbooks of special education from the initial year of compulsory education.

Time for real estate registration to be shortened

The Ministry of Land and Resources recently issued an implementation program shortening the time for real estate registrations, bringing more benefit and convenience to the public.

According to the program, measures will be adopted to shorten the registration time to 20 working days. However, those in complicated situations involving the registration of rural real estate, or inherited properties without being notarized, will be given the former duration of registration of 30 working days.

Favorable tax incentives for logistics firms

China will offer favorable tax terms to lower the cost of commodity storage for logistics firms, the Ministry of Finance said in a statement released on May 2.

Tax rates on urban land use will be cut by half for logistics facilities that store commodities such as agricultural and mineral products. The term only applies to facilities that cover an area of 6,000 square meters or above, according to the statement.

The tax cut will be in effect from the beginning of 2017 to the end of 2019.

Details:>> China offers tax incentives for logistics firms