Four departments deploy 22 tasks of cost reduction in 2024 _ Sina Finance

Securities Times reporter Qin Yanling

On May 23, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Finance and the People's Bank of China jointly issued the Notice on Key Work of Cost Reduction in 2024, which aims to improve the targeted effectiveness of preferential tax policies, improve the quality of financial services to the real economy, continue to reduce institutional transaction costs, ease the pressure on enterprise labor costs The 22 tasks of cost reduction this year will be deployed in seven aspects, including reducing the cost of raw materials for enterprises' land use, promoting the improvement of logistics quality, efficiency and cost reduction, and encouraging enterprises to tap potential.

The Notice has made a lot of arrangements to improve the quality and efficiency of financial services for the real economy and to continuously reduce institutional transaction costs.

Among them, in order to improve the quality and efficiency of financial services for the real economy, the Notice specifies that a good monetary and financial environment should be created, a sound monetary policy should be flexible, appropriate, accurate and effective, and a variety of monetary policy tools should be comprehensively used to maintain reasonable and sufficient liquidity. The scale of social financing and money supply should match the expected goals of economic growth and price level. The monetary policy transmission mechanism should be unblocked to avoid idle capital deposition. We will keep the RMB exchange rate basically stable at a reasonable and balanced level.

At the same time, we will promote the steady decline of loan interest rates, continue to play an important role in the reform efficiency of loan market quoted rate (LPR) and the market-oriented adjustment mechanism of deposit interest rates, and promote the steady decline of social comprehensive financing costs on the basis of maintaining the basic stability of the net interest margin of commercial banks.

In addition, the Notice also specified that it is necessary to guide the precise drip irrigation of financial resources and continue to provide inclusive and sustainable financial support to agriculture related, small and micro enterprises and private enterprises; Implement differentiated deposit reserve ratio policies for rural financial institutions. We will guide financial institutions to continue to increase financial support for major strategies, key areas and weak links such as rural revitalization, scientific and technological innovation, manufacturing, and green development.

For small, medium-sized and micro enterprises, the Notice requires that the financial service capability improvement project of small, medium-sized and micro enterprises be carried out in depth, and the credit policy orientation effect evaluation of small, micro and private enterprises be continued. We will optimize the supervision and evaluation system of financial services for small and micro businesses in commercial banks, improve the due diligence and exemption system for small and micro businesses, and increase the loan issuance for inclusive small and micro businesses. Reduce the exchange rate hedging costs of SMEs. We will promote banks to establish and improve a long-term mechanism for serving exchange rate risk management of enterprises, enrich exchange rate hedging products, strengthen publicity and training, optimize credit and margin management systems for small, medium-sized and micro enterprises, strengthen multi-party cooperation between the government and banks, and jointly reduce the cost of foreign exchange hedging for small, medium-sized and micro enterprises.

In terms of preferential policies for taxes and fees, the Notice requires improving targeted effectiveness, including implementing structural tax and fee reduction policies such as pre tax additional deduction of R&D expenses, tax reduction and exemption for transformation of scientific and technological achievements, focusing on supporting scientific and technological innovation and manufacturing development, and strengthening the dominant position of enterprises in scientific and technological innovation; Properly reduce import tariffs on advanced technical equipment and resources.

At the same time, strengthen the supervision of enterprise related charges. We will resolutely investigate and punish arbitrary charges, fines and apportionments. Focusing on government departments and subordinate units, industry associations, financial institutions, natural gas pipeline networks and water supply enterprises and other fields, investigate and deal with illegal charges of intermediary services for administrative approval, illegal charges of industry associations relying on administrative power, failure of financial institutions to implement fee relief policies, failure of natural gas pipeline networks and water supply enterprises to implement government pricing and other acts in accordance with the law. We will study and establish a normalized coordinated supervision system and working mechanism for enterprise related charges, implement the list system of enterprise related charges, improve the joint supervision and punishment mechanism for enterprise related charges, and improve the level of legalization of enterprise related charge supervision.

In terms of easing the pressure on labor costs of enterprises, we will continue to reduce some social insurance rates in stages, continue to implement the policy of reducing unemployment insurance and work-related injury insurance rates in stages, and extend the implementation period to the end of 2025.