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Authorities address pressing concerns

Hu Yongqi
Updated: Jun 27,2017 9:49 AM     China Daily

Securitization for PPP projects to be accelerated

The Ministry of Finance, the People’s Bank of China and the China Securities Regulatory Commission jointly released a notice to regulate and boost the development of securitization for public-private partnership projects.

Companies running the projects will be encouraged to prioritize their financing status by issuing securitized products, the notice said. The document said companies can issue securitized products in the operating stage, based on usufruct rights or contract creditor’s rights.

Association fees to be removed or regulated

The Ministry of Civil Affairs announced recently it will remove and further regulate fees charged on enterprises by national industry associations, which have already been disconnected with enterprises. The charges include membership fees, mainly paid by enterprises, operating and service charges, administrative fees and other payments.

Ministry to overhaul the broadband industry

The Ministry of Industry and Information Technology released a notice on carrying out an overhaul of broadband connection services, to solve problems such as unregulated advertising, incomplete agreement content for users and underrated broadband speed.

All relevant telecom companies were required to strictly implement the policy to provide an agreeable online experience for users. The ministry required true, concise and easy-to-understand information from broadband providers, who must put all service items and prices in eye-catching positions to fully inform the consumers.

Further support for rural business startups

According to a notice released by the Ministry of Agriculture, a nationwide inspection will be conducted and further support will be given to people who have returned to rural areas to start a business.

All local departments of agriculture should lay more emphasis on such measures as a major task of promoting mass entrepreneurship and innovation to increase economic and social development in rural areas.

Expansion of favorable tax policy for small businesses

The State Taxation Administration released a recent notice to clarify the preferential policy on the income tax for micro and small-enterprises.

According to the document, eligible micro and small-businesses with taxable income of no more than 500,000 yuan ($73,170) per year can benefit from a favorable policy of a 20-percent rate from Jan to Dec 31, 2019.

Eligible companies who didn’t enjoy the policy during this year’s first quarter will also get a tax reduction in the next three quarters, the document said.

Online platforms to increase employment opportunities

The Ministry of Human Resources said on June 22 that the internet will be further utilized to help boost online employment based on the characteristics of the new generation of labor.

Each year sees a new workforce of 15 million people, while more than 7.95 million college students are expecting to graduate this year.

Yin Weimin, the minister of human resources, said traditional on-site recruitment is high-cost and of low efficiency and is less attractive to young people, who are used to the mobile internet for almost everything.

He urged post employment information across a wider range by expanding the usage of multiple channels such as websites and mobile phones. By doing so, job-seekers can find recruitment information at any time and in any place in an effective and convenient manner, he said.

“With these two digital archives, we can match demands with supply more precisely to reduce the costs of employment and increase the chances for jobseekers to find good jobs,” the minister said.

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