China on its way to cutting 1t yuan in enterprise costs

A decision was made during a State Council executive meeting chaired by Premier Li Keqiang on June 7, to cut fees paid by enterprises, with promises to slash costs by 1 trillion yuan ($147.1 billion) this year.

The meeting also decided to create a better policy environment to build more high-level demonstration bases of mass entrepreneurship and innovation, and adopted draft regulations on volunteer services.

Details:>>China on its way to cutting 1t yuan in enterprises costs

Five-year plan on development of border regions

The State Council has issued a five-year plan for developing border regions and improving border residents’ income.

It urged developing the infrastructure in border regions in various fields, including transportation, water conservancy, energy, information technology, and promoting urban construction.

It also asked border areas to improve people’s lives, healthcare and cultural services, develop advantageous industries, join the Belt and Road Initiative, promote the ecosystem and environment and consolidate ethnic harmony.

Details:>> China issues five-year plan to develop border regions

Expand tax breaks for small businesses

China will expand tax breaks for small businesses in a move to reduce corporate burdens and support economic growth, authorities said on June 7.

From Jan 1, 2017, to Dec 31, 2019, small businesses with an annual taxable income of no more than 500,000 yuan ($73,599) will be eligible for tax preferences, raised from the previous limit of 300,000 yuan, according to a notice by the Ministry of Finance and the State Administration of Taxation.

Small businesses that qualify will have their corporate income tax base halved, with a tax rate of 20 percent, the notice said. The standard corporate income tax rate stands at 25 percent.

Launch online cross-region inquiry platform for medical insurers

The Ministry of Human Resources and Social Security (MHRSS) has launched an online cross-region inquiry platform for medical insurers.

Users can go to the website si.12333.gov.cn, or log in to the official website of the ministry to search for related information.

Sub-standard food samples

The China Food and Drug Administration on June 6 released four batches of sub-standard food items among its 446 batches of food samples, which included nuts, starch products, liquor, frozen drinks and soft drinks.

Train more than one million new-type farmers

A meeting on promoting the training of new-type professional farmers was held on June 6. An official from the Ministry of Agriculture said the government will invest 1.5 billion yuan to train more than one million new-type farmers this year.

Universities given more autonomy to enroll international students

The ministries of education, public security and foreign affairs, have jointly released a regulation on enrolling international students.

The document released by the three departments gave more autonomy to higher learning institutions, allowing qualified universities to enroll international students on their own.

It regulated that universities should involve the training of international students in their education plans, allocate suitable teachers, and establish and improve education and a mechanism to ensure teaching quality.