Jinchengjiang takes steps to stabilize development

Jinchengjiang district of Hechi recently has been taking steps to stabilize the development of enterprises and ensure the well being of people, while remaining devoted to preventing and controlling the novel coronavirus pneumonia.

Strengthening financial support is one of the district's efforts to help the work resumption of enterprises in the district and to stabilize their development.

The district government is supporting financial institutions in the district in developing low-interest products, extending loan maturities, and adjusting repayment schedules, with aims to reduce the financing cost for enterprises, as well as help enterprises and self-employed people to return to work and resume production.

By March 19, there were 46 enterprises which had taken out a low-interest loan, with the total loan amount reaching 45.76 million yuan ($6.43 million). A total of 47.23 million yuan of enterprise loans were extended maturities, benefiting two enterprises and 35 individual businesses.

By the end of February, all the industrial enterprises above designated scale in the district had resumed their production, as well as all the services enterprises above designated scale, leading agricultural enterprises, transportation enterprises, and real estate businesses.

An enterprise above designated scale refers to one whose annual main business income exceeds 20 million yuan.

All the major projects at the autonomous region level in the district also returned to their work by February, along with those at the municipal level.

Jinchengjiang district has also fully implemented the preferential tax policies for individual businesses or small-scale taxpayers recently released by the State Taxation Administration and the Ministry of Finance.

The district promoted these preferential tax policies to small-scale taxpayers through text messages, e-mails, phone calls, as well as social media platforms like WeChat and QQ.

From March 1 to 13, the small-scale taxpayers in Jinchengjiang district were entitled to value added tax (VAT) reduction of 740,000 yuan in total. It is estimated that the total amount of VAT reduction will reach 7.5 million yuan from March to May.

In addition, Jinchengjiang district allocated funds for the renovation of dilapidated houses in rural areas, the construction of rural water conservancy projects, compulsory education, and poverty alleviation efforts to ensure people's well being.

The district has also provided subsidies for public welfare posts, vocational training, employment, and probation to help people facing difficulties during the outbreak of the novel coronavirus.

By the end of February, it had invested a total of 164.97 million yuan in the areas of education, public health, and social security, accounting for more than 80 percent of the district's public financial budget expenditure. A total of 2.89 million yuan in employment subsidies had also been distributed.