National Convention: Actively Respond To The Impact Of The Epidemic, And Strive To Stabilize Foreign Trade And Foreign Investment Basic Plate

Original title: Li Keqiang chaired the Executive Council of the State Council to introduce a comprehensive test area for cross-border electricity providers, support for processing trade, and online series of initiatives such as Canton Fair.

Li Keqiang chaired the executive session of the State Council.

Launch a series of initiatives such as the establishment of a comprehensive pilot area for cross-border e-commerce, support for processing trade and online fair.

Actively respond to the impact of the epidemic and strive to stabilize foreign trade and capital markets

Decides to continue to implement partial tax support policies for Inclusive Finance and small loan companies.

Li Keqiang, premier of the State Council, chaired a State Council executive meeting on April 7th. He launched a series of initiatives such as the establishment of a comprehensive pilot area for cross border e-commerce, support for processing trade, and online holding of the Canton Fair. He actively responded to the impact of the epidemic and worked hard to stabilize the basic foreign trade and foreign investment. He decided to extend some of the tax support policies of Shi Puhui financial and small loan companies.

The meeting pointed out that the current global epidemic spread rapidly, and it has a huge impact on the world economy and international trade and investment. We should follow the Party Central Committee and the State Council to carry out the work of "six stability", persist in opening wider to the outside world, and adopt a series of measures to stabilize foreign trade and stabilize foreign investment, so as to reduce the serious impact of China's economy, especially on employment.

The meeting pointed out that in recent years, China's cross-border e-commerce import and export scale continues to grow rapidly, becoming a new highlight in the development of foreign trade. At present, traditional foreign trade has been greatly affected by the epidemic. We must give greater play to the unique advantages of cross-border electricity providers, and help to push ahead with foreign trade difficulties with new formats. The meeting decided that on the basis of the establishment of 59 cross-border electricity supplier comprehensive test zones, 46 new cross boundary electricity supplier comprehensive test zones will be set up. Promoting effective measures to promote the development of cross-border electricity providers, while supporting the policy of exemption from value-added tax and consumption tax and approved verification of enterprise income tax in the comprehensive test area, and studying the location of the comprehensive test area in the pilot area of cross-border electricity suppliers, and supporting enterprises to build and share overseas warehouses.

The conference pointed out that processing trade accounted for 1/4 of China's foreign trade. We should co-ordinate the development of domestic and foreign trade, support processing trade enterprises to alleviate difficulties, and promote stable foreign investment and steady employment. First, the processing trade bonded materials or manufactured goods will be sold domestically, and the interest on tax reduction will be temporarily exempted before the end of the year. Two, it is necessary to extend the pilot scale of processing trade enterprises' domestic sales according to imported materials or finished products to all comprehensive bonded areas. Three, we should expand the scope of encouraging foreign investment and narrow the categories of prohibited products in processing trade.

In response to the grim situation of the global epidemic, the meeting decided that the 127th Canton Fair will be held online in mid and late 6. We invite customers from home and abroad to display products online, use advanced information technology, provide all-weather online promotion, procurement and docking, online negotiation and other services, and create online trade platform for high-quality and characteristic products, allowing Chinese and foreign merchants to place orders and do business without leaving home.

The meeting pointed out that it is necessary to enhance the capacity of China Europe class trains and other freight corridors, promote the improvement of cargo connection and other conditions, and fully undertake the transfer of goods by sea and air transportation, and support the stabilization of the international supply chain and resumption of production.

In order to strengthen the inclusive financial services for small and micro enterprises, individual industrial and commercial households and farmers, and help them tide over difficulties, the meeting decided to implement linkage between fiscal and financial policies and extend some of the tax preferential policies that had already expired to the end of 2023. It includes: interest income from loans issued by financial institutions to small and micro enterprises, individual industrial and commercial households and peasant households is exempt from value added tax; interest income for loans to farmers and loans for 100 thousand yuan and below; premium income for insurance business of seed aquaculture industry is accounted for by 90% of taxable income; the interest income for farmers who are 100 thousand yuan or below of small loan companies is exempt from interest income. The value tax shall be included in the taxable income of enterprise income tax according to 90%, and the loan loss reserve shall be deducted according to the loan balance of 1% at the end of the year, and the income tax shall be deducted before tax.