The Chinese government is planning more ways to develop small and micro sized businesses. That’s the word from experts and officials at the ongoing Boao Forum in Hainan Province. The companies can expect lower taxes and fees, and more financial assistance.
China’s budding businesses say lower fees and taxes are their major want. A survey of China’s micro and small companies done for the Boao Forum shows that 60 percent of the respondents see fees and taxes as their biggest concerns.
The survey came after China already cut fees for small companies last August. The cut favors budding businesses with monthly sales of less than 20 thousand yuan by charging them no value added taxes. Even with the cut, half of the survey respondents said they still want less red tape, easier entry, and more financial aid.
Small and micro companies topped the discussion in the first day of the Boao Forum. Analysts say these companies account for about 60 percent of China’s overall economic output and are struggling with rising costs and policy limits.
More support is around the corner. Draft proposals from several ministerial agencies have been submitted to the State Council for policy review. Lightening the load for small companies would add weight to the most dynamic part of the Chinese economy.
Source: CCTV
China’s budding businesses say lower fees and taxes are their major want. A survey of China’s micro and small companies done for the Boao Forum shows that 60 percent of the respondents see fees and taxes as their biggest concerns.
The survey came after China already cut fees for small companies last August. The cut favors budding businesses with monthly sales of less than 20 thousand yuan by charging them no value added taxes. Even with the cut, half of the survey respondents said they still want less red tape, easier entry, and more financial aid.
Small and micro companies topped the discussion in the first day of the Boao Forum. Analysts say these companies account for about 60 percent of China’s overall economic output and are struggling with rising costs and policy limits.
More support is around the corner. Draft proposals from several ministerial agencies have been submitted to the State Council for policy review. Lightening the load for small companies would add weight to the most dynamic part of the Chinese economy.
Source: CCTV
