The local authority in north China’s Hebei Province has been stepping up efforts to optimise the business environment since the beginning of the year, reported Hebei Daily Monday.
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Detailed measures in strengthening the business environment were taken in certain aspects to reduce the tax burden, standardise government procurement procedure, entrepreneurial guaranteed loans, standardise the operation of Public-Private-Partnership (PPP) projects and facilitate supervision.
In terms of relieving the tax burden on enterprises, relevant policies on tax and fee reduction had been issued accordingly by the local authority in May this year.
This is at the same time it was also implementing the supervision and inspection of tax reduction in various parts of the province.
Hebei expects to realise the disclosure of government’s procurement intentions to all provincial buyers in 2022 to enhance government procurement transparency in the province.
In the meantime, 30 per cent of the total budget of government procurement projects would be reserved for more than 60 per cent of small and micro enterprises in Hebei, while the online government procurement system should also be accelerated.
The province had been promoting the standardised operation of the PPP project, by the end of June 2020, a total of 415 PPP projects valued at 670.8 billion Yuan in Hebei had been audited by the Ministry of Finance and incorporated into the PPP comprehensive information platform.
While promoting the implementation of PPP projects, Hebei also encouraged various enterprises to participate in PPP projects.
This is according to the same standards and treatment, as at the end of June, 169 private enterprises participated in PPP projects in the province, with an investment worth sum of 303.2 billion Yuan.
As for supporting the resumption of work and entrepreneurship, Hebei had introduced measures to discount interest on start-up guaranteed loans, including expanding the scope of loans, lowering the loan standards for small and micro companies, increasing the number of credits for individuals and partnerships.
In 2020, Hebei issued 71.14 million Yuan of discount funds for entrepreneurial guaranteed loans in advanced and extended 828 million Yuan of entrepreneurial guaranteed loans for the province.
In addition, the province is also committed to strengthening supervision over accounting firms, asset evaluation agencies and government procurement social agencies to further standardise the market regulatory system.
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