On April 8, Premier Li Qiang of the State Council presided over a symposium of experts and entrepreneurs on the economic situation, pointing out that to consolidate and enhance the positive trend of economic recovery, we must pay close attention to the detailed implementation of the spirit of the Central Economic Work Conference and the National Two Sessions, and promote the acceleration of the implementation of various deployments.
In April, the State Council issued a number of important policies, let's take a look -
Drive large-scale equipment refresh and consumer trade-in
Promote the renewal of equipment in the industrial field
The Ministry of Industry and Information Technology and other seven departments jointly issued the "Implementation Plan for Promoting Equipment Renewal in the Industrial Field", proposing to implement four actions, including advanced equipment renewal, digital transformation, green equipment promotion, and intrinsic safety level improvement, to increase fiscal and tax support, strengthen standard guidance, strengthen financial support, and strengthen factor guarantees.
Promote the trade-in of consumer goods
The Ministry of Commerce and 14 other departments jointly issued the "Action Plan for Promoting the Trade-in of Consumer Goods", which clarified the key tasks of trade-in of consumer goods. The first is to carry out the trade-in of cars, the second is to promote the trade-in of household appliances, and the third is to promote the "renewal" of home decoration, kitchen and bathroom.
Promote the renewal of building and municipal infrastructure equipment
The Ministry of Housing and Urban-Rural Development issued the "Implementation Plan for Promoting the Renewal of Construction and Municipal Infrastructure Equipment", which requires the renewal of building and municipal infrastructure equipment to be promoted by classification focusing on residential elevators, water supply, heating, gas supply, sewage treatment, sanitation, urban lifeline projects, and building energy-saving transformation.
Deploy standard enhancement actions to support equipment refreshes and consumer trade-ins
Seven departments including the State Administration for Market Regulation jointly issued the "Action Plan for Upgrading Traction Equipment Renewal and Consumer Goods Trade-in with Standards", with the goal of completing the formulation and revision of 294 key national standards by 2025, which will strongly support equipment renewal and consumer goods trade-in.
Clarify the implementation measures for "reverse invoicing" of resource recovery enterprises
The State Administration of Taxation issued the Announcement on Matters Concerning the "Reverse Invoicing" of Resource Recovery Enterprises to Sellers of Scrapped Products by Natural Persons. The "Announcement" clarifies that sellers who sell scrapped products through "reverse invoicing" can enjoy preferential tax policies such as VAT exemption for small-scale taxpayers with monthly sales of less than 100,000 yuan and a 3% levy rate minus 1% to calculate and pay VAT.
The central bank has set up 500 billion yuan of re-loans for scientific and technological innovation and technological transformation
The People's Bank of China has set up a re-loan for scientific and technological innovation and technological transformation, with a quota of 500 billion yuan and an interest rate of 1.75%, aiming to encourage and guide financial institutions to increase financial support for technology-based small and medium-sized enterprises, technological transformation and equipment renewal projects in key areas.
Adjust the auto loan policy
The People's Bank of China and the State Administration of Financial Supervision and Administration jointly issued a notice clarifying that the maximum proportion of loans for self-use of traditional power vehicles and self-use new energy vehicles shall be determined by financial institutions. The circular also proposes to strengthen the innovation of financial products and services, and appropriately reduce or exempt the liquidated damages arising from the early settlement of loans in the process of car trade-in.
The maximum subsidy for car trade-in is 10,000 yuan
The "Detailed Rules for the Implementation of the Trade-in Subsidy for Automobiles" was issued on April 24, and from the date of issuance to December 31, 2024, the subsidy of 10,000 yuan will be given for scrapping the two types of old passenger cars that meet the standards and purchasing eligible new energy passenger vehicles, and the subsidy of 7,000 yuan will be given for scrapping fuel passenger cars with emission standards of China III and below and purchasing fuel passenger cars with a displacement of 2.0 liters and below.
The first (set) of major technical equipment testing and evaluation management measures were released
In order to promote the improvement of the quality of major technical equipment in the mainland and support the major technical equipment research projects, the State Administration for Market Regulation and other five departments jointly issued the "Administrative Measures for the Testing and Evaluation of China's First (Set) Major Technical Equipment (Trial)".
Promote the high-quality development of the capital market
On April 22, the State Council conducted the seventh special study with the theme of "Further Deepening the Reform of the Capital Market and Promoting the Steady and Healthy Development of the Capital Market". Premier Li Qiang pointed out when presiding over the study that it is necessary to take the opportunity of implementing the "Several Opinions of the State Council on Strengthening Supervision and Preventing Risks and Promoting the High-quality Development of the Capital Market" to do a solid job in the reform and development of the capital market. Accelerate the improvement of the basic institutional system of the capital market, improve the issuance, trading, delisting and other key systems, and promote the virtuous cycle of investment and financing and the dynamic balance of listing and delisting. Efforts should be made to improve the quality of listed companies, strictly control the access to issuance and listing, and promote listed companies to enhance their awareness of returning investors and enhance their investment value. Improve and strengthen the supervision of the capital market, and increase the punishment of violations of laws and regulations. Effectively strengthen the protection of the rights and interests of small and medium-sized investors, and create an open, fair and just market environment.
Strengthen supervision, prevent risks, and promote the high-quality development of the capital market
The State Council issued the "Several Opinions on Strengthening Supervision and Preventing Risks and Promoting the High-quality Development of the Capital Market". The opinions require that the issuance and listing access should be strictly controlled, the listing standards of the main board and the Growth Enterprise Market should be improved, the evaluation standards for the scientific and technological innovation attributes of the Science and Technology Innovation Board should be improved, and the coverage of on-site inspections should be expanded. It is necessary to strictly supervise the continuous supervision of listed companies. It is necessary to intensify the supervision of delisting, further tighten the standards for mandatory delisting, smooth multiple delisting channels, accurately crack down on all kinds of illegal "shell" behaviors, and improve the investor compensation and relief mechanism in the process of delisting. It is necessary to strengthen the supervision of securities and fund institutions, and promote the industry to return to its origins and become better and stronger. It is necessary to strengthen the supervision of high-frequency quantitative transactions and enhance the internal stability of the capital market. It is necessary to vigorously promote the entry of medium and long-term funds into the market. It is necessary to further deepen reform and opening up in an all-round way and promote the deepening and solidification of the stock issuance registration system. It is necessary to strengthen the construction of the rule of law in the capital market. Promote the formation of a joint force to promote the high-quality development of the capital market.
China Securities Regulatory Commission issued "Sixteen Measures for Capital Market to Serve the High-level Development of Technology Enterprises"
The "Sixteen Measures" put forward all-round supportive measures from listing financing, mergers and acquisitions, bond issuance, private equity investment, etc., the main contents include: First, the establishment of a "green channel" for financing. The second is to support the equity financing of science and technology enterprises. The third is to strengthen the precise support of the bond market. Fourth, improve the supporting system to support scientific and technological innovation.
The China Securities Regulatory Commission (CSRC) has lowered the commission rate for fund stock trading
The China Securities Regulatory Commission (CSRC) issued the Regulations on the Administration of Securities Transaction Costs of Publicly Offered Securities Investment Funds, which will come into effect on July 1, 2024. The main contents of the regulations include: reducing the commission rate of fund stock trading, and lowering the upper limit of the proportion of fund managers' securities trading commissions.
China Securities Regulatory Commission Issued Opinions on Strict Implementation of the Delisting System
The main contents of the "Delisting Opinions" include: first, strict mandatory delisting standards. Second, we will further unblock diversified delisting channels. Third, reduce the value of "shell" resources. Fourth, strengthen the supervision of delisting. Fifth, we will implement compensation relief for delisted investors.
fiscal policy
In 2024, the screening of local government special bond projects has been completed
The National Development and Reform Commission and the Ministry of Finance have completed the screening of local government special bond projects in 2024, and a total of about 38,000 special bond projects have been screened and approved, with a demand for special bonds of about 5.9 trillion yuan in 2024. The Ministry of Finance said that more new energy, new infrastructure, and new industries will be included in the special bond investment field.
The key areas of support for ultra-long-term special treasury bonds are clear
The ultra-long-term special treasury bonds focus on key tasks such as accelerating the realization of high-level scientific and technological self-reliance and self-reliance, promoting the integrated development of urban and rural areas, promoting coordinated regional development, improving the security of food and energy resources, promoting high-quality population development, and comprehensively promoting the construction of a beautiful China.
Optimize the business environment
The executive meeting of the State Council listened to the report on the special supervision and investigation of the optimization of the business environment
The executive meeting of the State Council listened to the report on the special supervision and investigation of the optimization of the business environment. The meeting pointed out that the opinions and suggestions collected by the supervision and investigation should be analyzed and studied by the relevant departments in accordance with the division of responsibilities, one by one, and actively absorbed them when formulating and promulgating policies. Typical experiences and practices should be summarized and promoted in a timely manner.
The executive meeting of the State Council will study and improve measures to solve the long-term mechanism of enterprise account arrears
The executive meeting of the State Council will study and improve measures to solve the long-term mechanism of enterprise account arrears. The meeting pointed out that it is necessary to focus on the problem of government arrears of enterprise accounts and the problem of large enterprises owing to small and medium-sized enterprises, further increase the cost of non-compliance of delinquent entities, reduce the cost of rights protection of owed enterprises, and pay close attention to improving relevant laws and regulations and project price settlement, commercial bill management and other systems and regulations, so that the long-term mechanism can operate smoothly as soon as possible.
In the field of bidding, the first departmental regulations for fair competition review were ushered in
The National Development and Reform Commission and other eight departments jointly issued the "Rules for the Review of Fair Competition in the Field of Tendering and Bidding", which mainly includes the general provisions, review standards, review mechanism, supervision and management and supplementary provisions of the fair competition review in the field of bidding and bidding, which will come into force on May 1, 2024. For the first time, the "negative list" of policies and measures for the bidding field was introduced.
The Measures for the Administration of Infrastructure and Public Utilities Concessions were revised and released
Six departments, including the National Development and Reform Commission, issued the revised Administrative Measures for Infrastructure and Public Utilities Concessions, which will come into force on May 1, 2024. The measures clearly extend the maximum term of the franchise to 40 years, and encourage private enterprises to participate in the franchise project through direct investment, sole proprietorship, holding, participation in the consortium and other ways.
The Ministry of Finance issued the Interim Measures for the Management of Government Procurement Cooperation and Innovative Procurement Methods
The "Measures" proposes that a reasonable risk sharing and incentive mechanism should be established for cooperative innovation procurement, and various suppliers such as state-owned enterprises, private enterprises, foreign-invested enterprises, colleges and universities, and scientific research institutions with R&D capabilities should be encouraged to actively participate, so as to give full play to the radiation effect of financial funds on the research and development of applied technology in the whole society, and promote scientific and technological innovation.
The National Development and Reform Commission (NDRC) issued the Outline for the Preparation of Franchise Plans for Public-Private Partnership Projects (Trial Version in 2024).
The National Development and Reform Commission (NDRC) has relied on the national online approval and supervision platform for investment projects to launch the national public-private partnership project information system.
Six departments, including the Ministry of Human Resources and Social Security and the Ministry of Education, jointly launched the 2024 Private Enterprise Service Month, which will last until May 15.
Develop new quality productive forces
Deepen financial services for the manufacturing industry and help promote new industrialization
The State Administration of Financial Supervision and other three departments jointly issued a notice, clarifying that it is necessary to separately list the manufacturing credit plan, support the key points and task objectives, promote more credit resources to support the development of the manufacturing industry, and continue to increase the proportion of medium and long-term loans in the manufacturing industry. Deepen and expand the working mechanism of medium and long-term loans in the manufacturing industry, and do a good job in information docking and loan delivery.
We will further strengthen financial support for green and low-carbon development
Seven departments, including the People's Bank of China, jointly issued the Guiding Opinions on Further Strengthening Financial Support for Green and Low-Carbon Development, proposing to promote the gradual implementation of carbon accounting in the financial system and formulate and issue unified carbon accounting standards for financial institutions and financial businesses. Formulate a unified green finance standard system, and accelerate the research and formulation of transition finance standards.
Accelerate the cultivation of digital talents to support the development of the digital economy
Nine departments, including the Ministry of Human Resources and Social Security, issued the Action Plan for Accelerating the Cultivation of Digital Talents to Support the Development of the Digital Economy (2024-2026), deploying six key projects, including the Digital Technology Engineer Cultivation Project, the Digital Skills Improvement Action, the Digital Talent International Exchange Activities, the Digital Talent Innovation and Entrepreneurship Action, the Digital Talent Empowerment Industry Development Action, and the Digital Vocational and Technical Skills Competition. Strengthen incentives and guidance and other six aspects to increase policy support.
The Interim Measures for the Management of National Key R&D Programs were revised and released
The Ministry of Science and Technology and the Ministry of Finance issued the "Interim Measures for the Management of National Key R&D Plans", emphasizing that the special acceptance adheres to the results-oriented, focuses on the evaluation of major landmark achievements and the transformation and application of achievements, and adopts test platform verification, real application scenario assessment, user unit assessment and other methods to strengthen the objectivity, pertinence and scientificity of the acceptance evaluation.
Promote the grid-connected and dispatching application of new energy storage
The National Energy Administration issued the "Notice on Promoting the Grid-connected and Dispatching Application of New Energy Storage", proposing to standardize the grid-connected access management of new energy storage and optimize the dispatching operation mechanism, which will help give full play to the role of new energy storage and support the construction of a new power system.
Carry out the 2024 5G Lightweight (RedCap) Penetration Campaign
The Ministry of Industry and Information Technology (MIIT) issued the Notice on Launching the 2024 5G Lightweight (RedCap) Penetration Action to promote the commercial process of 5G RedCap, open up key links such as 5G RedCap standards, networks, chips, modules, terminals, and applications, and accelerate the innovation and development of 5G.
The cultivation of the sixth batch of specialized, special and new "little giant" enterprises was launched
The Ministry of Industry and Information Technology issued a notice to organize the cultivation of the sixth batch of specialized, special and new "little giant" enterprises, and the review of the third batch of specialized, special and new "little giant" enterprises was launched at the same time.
The Guidelines on Major Preferential Tax Policies for Supporting the Development of the Manufacturing Industry in the Mainland were issued
The Ministry of Finance and the State Administration of Taxation have compiled the Guidelines on Major Preferential Tax Policies for Supporting the Development of the Manufacturing Industry in the Mainland. The guidelines include a total of 31 special and inclusive and regional policies.
Further promote the intelligent construction of mines
Seven departments issued the "Guiding Opinions on Further Promoting the Intelligent Construction of Mines and Promoting the Development of Mine Safety", proposing that by 2026, a complete intelligent mine standard system will be established, the integration and interconnection of mine data will be promoted, and the intelligent perception of the environment, the intelligent linkage of the system, and the intelligent early warning of major disaster risks will be realized.
Expand high-level opening up
The mainland will carry out a pilot project to expand the opening up of value-added telecommunications services
The Ministry of Industry and Information Technology (MIIT) issued a notice to decide to carry out the pilot work of expanding the opening up of value-added telecommunications services, and to remove restrictions on foreign ownership in Internet data centers (IDCs) and content delivery networks (CDNs) in areas approved for pilot projects.
We will further support foreign institutions to invest in domestic technology-based enterprises
The Ministry of Commerce and other ten departments issued the "Several Policies and Measures on Further Supporting Overseas Institutions to Invest in Domestic Science and Technology Enterprises", focusing on the business characteristics of overseas institutions and the development needs of domestic science and technology enterprises, and proposing 16 specific measures in four aspects: optimizing management services, increasing financing support, strengthening exchanges and cooperation, and improving the exit mechanism.
Customs has introduced a new batch of facilitation measures for advanced certified enterprises
The General Administration of Customs issued the Notice on Increasing the Facilitation Measures for Advanced Certified Enterprises to Promote the Quality and Stability of Foreign Trade, proposing that advanced certified enterprises, as enterprises with the highest credit rating of the Customs, can enjoy a series of preferential management measures such as priority processing, which can effectively reduce the international trade costs of enterprises and enhance their international competitiveness.
The replacement of entry documents can be "handled online"
The National Immigration Administration has decided to implement six policies and measures for the entry and exit management of convenience and enterprises from May 6. Eligible applicants do not need to go to the exit and entry window of the public security, and there is no time and place restriction on applying for the renewal and issuance of entry documents in China, realizing "handheld office and zero errands".
Further optimize payment services in the commercial sector and improve payment convenience
The three departments jointly issued the Notice on Further Optimizing Payment Services in the Commercial Sector and Improving the Convenience of Payment to promote the popularization and application of various payment methods in the commercial field, provide more high-quality, efficient and convenient payment services, and effectively meet the payment service needs of the elderly, foreign visitors to China and other groups.
Optimize the payment services of key cultural and tourism venues, improve the level of foreign currency exchange services, etc
The four departments jointly issued the "Notice on Further Optimizing the Payment Services of Key Cultural and Tourism Venues and Improving the Convenience of Payment", proposing that key cultural and tourism venues should achieve full coverage of domestic and foreign bank card acceptance. Actively promote the establishment of foreign currency exchange business outlets in cultural and tourism venues with a large number of foreign visitors to China, and improve the level of foreign currency exchange services.
The State Administration of Foreign Exchange (SAFE) has launched new measures to optimize the management of foreign exchange business in trade
The State Administration of Foreign Exchange (SAFE) issued a notice to introduce six policy measures to optimize the foreign exchange business process, mainly including optimizing the registration and management of the directory of foreign trade enterprises, facilitating the settlement of foreign exchange receipts and payments for cross-border trade of enterprises, and cleaning up and integrating the foreign exchange management regulations for trade in goods.
The State Administration of Foreign Exchange (SAFE) revised the guidelines for foreign exchange business under the capital account
The State Administration of Foreign Exchange (SAFE) has revised and issued the Guidelines for Foreign Exchange Business under the Capital Account (2024 Edition) to continuously enhance the convenience of business processing, which will come into effect on 6 May 2024.
Safeguard and improve people's livelihood
Ministry of Education: Carry out a special action on sunshine enrollment in compulsory education (2024)
The special action will comprehensively investigate the outstanding problems that the people have strong reactions to, resolutely rectify the phenomena of "black-box operation" and "pinching enrollment", seriously investigate and deal with all kinds of fees linked to and related to enrollment and enrollment, improve the long-term mechanism of fair enrollment, and further improve the people's educational satisfaction.
It is convenient for the masses to handle deposit inheritance, and notarization is not required for less than 50,000 yuan
The State Administration of Financial Supervision and the People's Bank of China jointly issued a notice clarifying that the account limit for simplified withdrawal of small deposits of deceased depositors has been uniformly increased to 50,000 yuan. Taking into account regional and institutional differences, small and medium-sized rural banks can gradually increase the limit to 50,000 yuan by the end of 2025.
Strengthen the management of rural housing construction
The five departments jointly issued the "Guiding Opinions on Strengthening the Management of Rural Housing Construction", proposing that by 2025, the closed-loop supervision of the whole process of rural housing quality and safety will be realized, the safety risks of rural housing will be effectively controlled, and the quality and safety of rural housing will be generally improved, and by 2035, the management system and technical standard system of rural housing construction will be comprehensively established, and the quality of rural housing construction will be greatly improved.
The Ministry of Transport announced five practical work plans for people's livelihood in 2024
The five livelihood facts include: expanding the scope and improving the quality and efficiency of barrier-free transportation services for the elderly, comprehensively providing services for the handling and use of road transport electronic licenses, basically realizing the full coverage of road passenger transport e-tickets, carrying out the "safety watch" action for truck drivers, and improving the quality of travel services in new forms of transportation.
The National Health Insurance Administration will promote the streamlining of the process for newborn insurance and other matters
The National Health Insurance Administration will promote the implementation of 12 key items of "doing one thing efficiently", and the reimbursement of medical expenses for newborns and maternity, the retirement of employee medical insurance participants, and the verification of information when enterprises go bankrupt no longer need to be handled by multiple departments;
The three departments will carry out the pilot work of making up for the shortcomings of county-level charging and swapping facilities
From 2024 to 2026, the Ministry of Finance and other three departments will carry out the pilot work of making up for the shortcomings of county-level charging and swapping facilities. The content and objectives of the pilot project are to improve the service guarantee capacity of public charging and swapping infrastructure in rural areas, and stimulate the consumption potential of new energy vehicles in pilot counties and surrounding areas.
Chinese government website
Editor: Xiang Yanhong