Four departments: promote the steady decline of loan interest rates and optimize tax preferential policies

Notice of the General Office of the National Development and Reform Commission and others on doing a good job in the key work of cost reduction in 2024

FGB YY [2024] No. 428

The Ministry of Public Security, the Ministry of Civil Affairs, the Ministry of Justice, the Ministry of Human Resources and Social Security, the Ministry of Natural Resources, the Ministry of Ecological Environment, the Ministry of Housing and Urban Rural Development, the Ministry of Transport, the Ministry of Water Resources, the Ministry of Agriculture and Rural Development, the Ministry of Commerce, the State owned Assets Supervision and Administration Commission of the State Council, the General Administration of Customs, the State Administration of Taxation, the General Administration of Market Supervision, the General Administration of Financial Supervision, the CSRC, the National Bureau of Statistics, the State Intellectual Property Office The General Office (Office) of the National Energy Administration, the National Forestry and Grass Administration, the Civil Aviation Administration of China, the State Administration of Foreign Exchange, China National Railway Corporation, all provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan, provincial capital cities at the sub provincial level, the Development and Reform Commission of Xinjiang Production and Construction Corps, the competent departments of industry and information technology, the financial departments (bureaus), the Shanghai headquarters of the People's Bank of China, all provinces Branches of autonomous regions, municipalities directly under the Central Government and cities specifically designated in the state plan:

In recent years, all regions and relevant departments, in accordance with the decisions and arrangements of the CPC Central Committee and the State Council, have taken multiple measures to stimulate the vitality of various business entities, and have achieved remarkable results in reducing the cost of enterprises in the real economy. In order to thoroughly implement the spirit of the Central Economic Work Conference, implement the key tasks of cost reduction proposed in the Government Work Report, and fully support the high-quality development of the real economy, the inter ministerial joint conference on cost reduction of enterprises in the real economy in 2024 will focus on organizing and implementing 22 tasks in 7 aspects.

1、 Improve the pertinence and effectiveness of preferential tax policies

（1） Optimize preferential tax policies. We will implement structural tax and fee reduction policies such as pre tax deduction of R&D expenses and tax relief for the transformation of scientific and technological achievements, focus on supporting scientific and technological innovation and the development of manufacturing industry, and strengthen the dominant position of enterprises in scientific and technological innovation. Properly reduce import tariffs on advanced technical equipment and resources.

（2） 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.

2、 Improve the quality and efficiency of financial services for the real economy

（3） Create a good monetary and financial environment. A prudent 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 financing The size and money supply should match the expected targets of economic growth and price level. The monetary policy transmission mechanism should be unblocked to avoid idle capital deposition. keep RMB rate It is basically stable at a reasonable and balanced level.

（4） Push loan Interest rates were stable with a drop. Continue to give play to the reform efficiency of loan market quoted rate (LPR) and deposits Interest rate marketization The important role of the adjustment mechanism is to maintain commercial bank Net interest margin On the basis of basic stability, the cost of comprehensive social financing will be steadily reduced.

（5） We will guide the precise drip irrigation of financial resources. We will maintain the stability of the policy of refinancing and rediscount, implement the support tool of inclusive small and micro loans, and continue to provide inclusive and sustainable financial support to agriculture related, small and micro enterprises, and private enterprises. Give play to the positive incentive role of the deposit reserve policy, and continue to implement the differentiated deposit reserve ratio policy for rural financial institutions. Deeply carry out the project to improve the financial service capacity of small, medium-sized and micro enterprises, and continue to carry out the evaluation of the effect of credit policy guidance for small, micro and private enterprises. 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. 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.

（6） Continue to optimize financial services. We will improve the network of the national integrated financing credit service platform, and expand the scope of enterprise credit information sharing. Optimize the layout of credit reporting market, promote credit reporting agencies to increase effective supply of credit reporting, and promote credit rating agencies to improve rating quality and service level. Optimize the functions of the unified registration and publicity system of movable property financing and the financing service platform of accounts receivable. Continue to promote intellectual property pledge financing. Promote the financing of government procurement contracts. Give play to the role of the national industrial and financial cooperation platform, strengthen the supply of financial services, and accurately match the financing needs of enterprises. We will implement the special guarantee plan for scientific and technological innovation, and increase the risk sharing and compensation of national financing guarantee funds for small and medium-sized technology-based enterprises. We will implement the special project of "financial integration of science and technology industry", strengthen financial services throughout the life cycle of science and technology enterprises, and guide early investment and venture capital to support the cultivation and development of unicorn enterprises.

（7） 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.

3、 Continuously reduce institutional transaction costs

（8） Create a fair competitive market environment. Formulate opinions on improving the market access system, revise the new version of the negative list of market access, and promote the full coverage of market access efficiency evaluation. We will continue to deepen the special action of anti-monopoly law enforcement in the area of people's livelihood, and strengthen anti-monopoly supervision and law enforcement in key areas. Clean up administrative regulations, rules, normative documents and policy documents involving unequal treatment of enterprises, and reduce institutional transaction costs of enterprises.

（9） Strengthen intellectual property protection. We will strengthen administrative protection of intellectual property rights. We will improve the efficiency of intellectual property public services, accelerate the construction of a national intellectual property protection information platform, strengthen the open sharing of intellectual property data, build a number of national key industry patent thematic databases, and continue to optimize intellectual property information public service products and tools.

（10） Standardize the bidding and government procurement system. We will actively promote the revision of the Bidding Law and its implementing regulations, and the Government Procurement Law. We will introduce fair competition review rules in the field of bidding and tendering, and reduce the rules and practices of exclusion and restriction of fair competition from the source. We will improve the technical standards and data specifications for electronic transactions throughout the bidding process, actively promote the national mutual recognition of digital certificates (CA), and reduce the transaction costs of enterprises. We carried out special rectification of "four types" of violations in the field of government procurement, strengthened regular administrative law enforcement inspection, and innovated means to improve regulatory effectiveness.

（11） We will improve the long-term mechanism for preventing and resolving arrears in enterprise accounts. We will strengthen the implementation of the Regulations on the Payment of Funds for Small and Medium sized Enterprises, and promote government agencies, institutions, and large enterprises to pay for goods, projects, and services for small and medium-sized enterprises in a timely manner.

（12） Optimize the foreign investment environment. We will continue to reduce the negative list of foreign investment access, completely cancel restrictions on foreign investment access in the manufacturing sector, and relax market access in related service industries. Expand the catalogue of industries that encourage foreign investment. We will strengthen service guarantees for foreign investment.

4、 Relieve the pressure of enterprise labor cost

（13） We will continue to reduce some social insurance rates periodically. Continue to implement the policy of phased reduction of unemployment insurance and work-related injury insurance rates, and extend the implementation period to the end of 2025.

（14） Support enterprises to stabilize and expand their posts. We will implement and improve policies such as post stabilization returns, special loans, employment and social security subsidies, and strengthen support for industries and enterprises with large employment capacity.

（15） Strengthen the joint construction and sharing of public training bases. We will promote the expansion and quality improvement of public training bases, increase training services for key groups, and strengthen skilled personnel training and enterprise employment security.

5、 Reduce the cost of raw materials for enterprise land

（16） Reduce the cost of land for enterprises. Continue to promote the transformation of industrial land from mainly transferring to paying equal attention to transferring and leasing. We will improve diversified supply systems such as long-term leasing, leasing before leasing, and flexible annual leasing. Study the development and utilization policy of underground space, implement the preferential policy of land price decreasing downward, and reduce the initial land use cost of enterprises. Guide local governments to adjust and update the benchmark land price according to local conditions, and further improve the support and guarantee capacity of land elements.

（17） We will strengthen energy and resources security. We will promote the implementation of a new round of mineral exploration breakthrough strategic action, strengthen the domestic exploration and development of important energy and mineral resources, increase reserves and production, vigorously promote the construction and production of supporting power sources, and improve the ability to ensure the safety of energy resources. We will implement the Measures for the Collection of Income from the Transfer of Mining Rights, and promote the healthy and orderly development of mineral related industries.

6、 Promote logistics quality improvement, efficiency increase and cost reduction

（18） Implement actions to reduce logistics costs. Research and formulate the Action Plan for Effectively Reducing the Logistics Cost of the Whole Society, strengthen policy coordination and work force, effectively promote the reduction of logistics cost of the whole society, and enhance the competitiveness of enterprises and the real economy.

（19） Perfect the modern logistics system. Steadily promote the construction of national logistics hub and national backbone cold chain logistics base, and promote the high-quality development of modern logistics. We will support a number of new cities to supplement and strengthen national integrated freight hubs, and promote the integration of cross transport modes. We will continue to implement the construction of county commerce, support the construction and transformation of county logistics distribution centers and township express logistics stations, improve storage, transportation, distribution and other facilities, speed up the improvement of rural commercial facilities, and improve the county and rural logistics distribution system.

（20） Adjust and optimize the transportation structure. We will vigorously develop multimodal transport and support and guide the development of "one order system" and "one box system" in multimodal transport. Accelerate the construction of railway special lines such as ports and logistics parks, vigorously promote the "transit from water to rail" and "transit from rail" of bulk cargo and medium and long distance cargo transportation, improve the efficiency of transportation organization, promote the rapid growth of port container rail water intermodal transportation, and promote the steady increase of the proportion of green collection and distribution of bulk cargo in ports, logistics parks, and industrial and mining enterprises.

7、 Encourage enterprises to tap potential internally

（21） Support enterprise transformation, upgrading and cost reduction. We will strengthen financial support for technological transformation of manufacturing enterprises, implement preferential tax policies related to investment in technological transformation, and promote the high-end, intelligent, and green transformation of traditional industries. Research and formulate policies and measures to promote high-quality development of specialized, special and new SMEs, and increase support for SMEs in key industrial chains. Actively promote the digital transformation of SMEs. Optimize and improve the insurance compensation policy for the first set of major technical equipment, focus on national strategic areas, and promote the promotion and application of the first set of major technical equipment and iterative innovation.

（22） Guide enterprises to improve production and operation efficiency. Deeply implement intelligent manufacturing engineering, support enterprises to build intelligent factories and smart supply chains, and build scenario based enterprise standard clusters. Implement the digital transformation action of manufacturing industry, encourage enterprises to carry out digital transformation and industrial Internet platform implementation, promote enterprises to improve the digital level of production, operation and other links, improve production and management efficiency, and reduce operating costs with the deep integration of industrialization and industrialization.

All relevant parties should further improve the coordination and promotion mechanism of cost reduction, strengthen coordination and linkage, closely track the progress of key tasks, and solidly promote the implementation of various policies. Strengthen the publicity of cost reduction policies, so that enterprises can understand and make good use of various preferential policies. Deeply carry out enterprise cost investigation and research, carefully listen to and absorb the opinions and suggestions of enterprises, actively respond to the concerns of enterprises, and constantly improve relevant policies. The inter ministerial joint meeting on cost reduction of enterprises in the real economy will continue to strengthen the sorting out of good experience and good practices, and do a good job in publicity and promotion.

General Office of the National Development and Reform Commission

General Office of the Ministry of Industry and Information Technology

General Office of the Ministry of Finance

General Office of the People's Bank of China

May 13, 2024