In order to help difficult industries in the service sector to overcome their difficulties and to restore their development, 14 departments, including the municipal development and reform commission, have recently jointly introduced the measures to promote the re-establishment of difficult industries in the service sector. A total of 40 measures cover both inclusive relief and support measures in the service sector, as well as precision in the classification of priority difficult sectors such as catering, retailing, cultural tourism, transport and civil aviation. In particular, financial institutions are being directed towards using a variety of monetary policy instruments to support services enterprises in financing loans。
I. Inclusive relief and support measures in services
1. In accordance with the circular of the general tax administration department of the ministry of finance on the value added tax policy for the promotion of the development of difficulty industries in the service sector (official gazette no. 11 of 2022), the vat-plus credit policy for services continued to be applied in 2022 for current deductions of 10 per cent and 15 per cent for production, living services, respectively. (municipal tax office)
2. From 1 january 2022 to 31 december 2024, small-scale taxpayers of vat, micro-enterprises and self-employed businesses in my municipality were reduced by 50 per cent from resource tax (excluding water resources tax), urban maintenance and construction tax, real estate tax, urban land use tax, stamp duty (excluding stock exchange stamp tax), cropland occupancy tax and education fee supplement, and local education supplement. (municipal fiscal authority, municipal tax authority)
3. In 2022, tax relief was granted to taxpayers who had real difficulties in paying property tax and urban land use tax. (municipal tax office)
4. Increase in the pre-tax deduction for equipment purchased by msmes in accordance with the circular of the general tax administration department of the ministry of finance on the policy on pre-tax deduction of equivalence of equivalent equipment for msmes (general tax administration department of the ministry of finance, no. 12 of 2022). In 2022, new equipment, appliances, valued at more than $5 million per unit, were acquired by msmes, which voluntarily chose to deduct them from the enterprise income tax in proportion to their unit value. Of these, the implementing regulations of the enterprise income tax act provide for a minimum depreciation of three years, 100 per cent of the unit value to be deducted prior to the current year's lump-sum tax; if the minimum depreciation is four, five, ten years, 50 per cent of the unit value to be deducted prior to the current year's lump-sum tax, while the remaining 50 per cent is to be deducted prior to the remaining year's depreciation. A loss resulting from a shortfall in the current year in which an enterprise chooses to apply the previous policy may be covered by a carry-over in the next five tax years, and an enterprise that benefits from a policy to extend the period of the loss may implement the current provisions. (municipal tax office)
5. The policy of phasing down the rate of contributions to unemployment insurance in the municipality to 1 per cent was extended until 31 july 2023. The unemployment insurance safe return policy continues to be implemented for enterprises that do not retrench their employees. (differing between municipal social services, municipal finance and municipal taxation)
6. The policy of withholding pension insurance, unemployment insurance and employment injury insurance is applied to enterprises in the catering, retailing, tourism, road water and rail transport, and civil aviation industry, with a three-month moratorium on old-age insurance contributions and a one-year moratorium on unemployment and work-related injury insurance, free of delay payments. (differing between municipal social services, municipal finance and municipal taxation)
7. For service micro-enterprises and self-employed businesses in rented state-owned housing, rental housing is subject to a six-month rent reduction in areas classified as high-risk areas of the epidemic in 2022 and three-month rent reduction in other areas. If the lessee's lease life in 2022 is shorter than the preceding credit period, the lease term relief is sustainable. If the rent has been paid, the deduction may be deferred. The amount of the concession to the final lessee may not be less than the amount of the concession to the state lessor if the dwelling is rented indirectly. Non-state tenants are encouraged to share the costs of the epidemic on an equal footing. In the case of the owner of a rental house with a reduction of 25 per cent or more in rent in 2022, good information is recorded in the credit records of the credit owner for the purpose of integrating social responsibility information into a comprehensive public credit evaluation. Where rent relief affects the performance of state-owned enterprises, it is recognized on a case-by-case basis. (municipal councils of state, municipal finance, municipal housing, urban and rural construction commissions, municipal development and reform commissions, with responsibility for the division of responsibilities among district people's governments)
8. In the year 2022, banks were guided to use central banks to release funds on a quasi-release basis, to perform the combined volume and structural adjustment function of monetary policy instruments, to strengthen financial support for disadvantaged industries, particularly small and medium-sized enterprises (msmes) and private enterprises in services, to enhance policy inclusiveness and ensure policy accuracy. (the responsibility of the people's bank, tianjin branch, tianjin's board of insurance and supervision, and municipal finance offices is divided according to the division of duties)
9. In the year 2022, banking financial institutions were actively using a variety of monetary policy instruments, such as inclusive micro-lending and 400 billion rolling agricultural micro-lending, to induce them to increase their bias towards difficult sectors, particularly services. Financial institutions are encouraged to act on the normal continuation of lending operations for service market holders eligible for renewal, not to be blindly loaned, loaned, cut off, mortgaged, and to help enterprises alleviate financial pressures. (the responsibility of the people's bank, tianjin branch, tianjin's board of insurance and supervision, and municipal finance offices is divided according to the division of duties)
10. The active use of the window guidance instrument has led banking financial institutions to pursue a fee reduction policy around key industries, major projects and groups, to sustain the effectiveness of the lpr reform of the lending market, to stabilize the cost of bank liabilities, to strengthen the real economy and to promote a steady reduction in the cost of integrated enterprise financing. To guide banks and payment agencies to continue to fine-tune the payment of fees and discounts, to fully implement the concessionary measures, and to strengthen policy advocacy to support the development of micro-enterprises and individual businesses. (tianjin's insurance supervisory board, municipal finance board, people's bank tianjin branch, according to the division of duties)
11. To take effective measures to stop the misallocation of fees and fines, to develop and implement the 2022 priority area work programme on the management of associated charges, to improve the governance of coordinated and joint disciplinary mechanisms and to implement the management of associated charges. Services industries are encouraged to undertake promotional activities through a variety of means. (municipal market supervisory board, municipal finance board, municipal development reform board, municipal transport board, municipal culture and tourism board, municipal business board, responsibility of the district people's governments in accordance with the division of responsibilities)
12. Assisting firms complete credit repair as soon as possible and carefully identify breaches of commitments. To strengthen the coordination of the credit rehabilitation efforts of enterprises, the administrative penalty credit restoration audit time has been reduced by more than 50 per cent, the credit restoration advisory line has been established, contact information has been made available and the relevant advice has been answered in a timely and accurate manner. Non-inclusion of a record of a breach of a credit commitment and non-inclusion of a public credit file for breaches of a credit commitment due to an outbreak force majeure factor. (city development reform commission)
13. Play the role of a credit information-sharing platform to optimize the credit financing environment. To expand financing services through the tianjin city credit information sharing platform, to enhance the integration of credit information between msmes and individual business owners, to act as a platform for integrated credit services for sme finance in tianjin city, and to improve the efficiency of bank linkages and financing services. • the introduction of credit products for small and medium-sized micro-entrepreneurs and self-employed businesses, and quick online lending. (municipal development reform commission, tianjin health supervisory authority, according to division of duties)
Ii. Support measures for the catering industry
14. Encourage areas in a position to do so to conduct regular employee nucleic acid tests free of charge for catering enterprises and to provide subsidized support for their vaccination and extermination expenses. In 2022, at the request of the city and district epidemic control command, employees of catering enterprises who are regularly tested for nucleic acids were offered free of charge. (municipal business bureau, municipal finance bureau, responsibility of district people's governments, according to division of responsibilities)
15. Inducing internet platform enterprises, such as out-of-pockets, to further lower the service rates for the catering industry and to reduce the operating costs of the catering industry; and granting a discount on the service rates for phase-by-stage vendors to catering enterprises in the administrative regions where high-risk areas of the epidemic are located. (city business bureau)
16. For catering enterprises that are severely affected by the epidemic, banking financial institutions are guided to support them, as appropriate, in overcoming the impact of the epidemic by lowering interest rates, providing additional financing and increasing credit. • promote the use by financial institutions of data such as tradable water to improve risk pricing capacity, the granting of “repay and recycle” credit loans, and the promotion of msmes and self-employed business loans in services such as catering to achieve “quantitative growth”. By relying on government data resources and information tools, the full use of the “trust lending”, “intense accommodation” and “wiss second” service platforms has been used to broaden access to diversified financing. (the municipal business bureau, the municipal development reform committee, the municipal finance bureau, the people's bank, tianjin branch, and tianjin's superintendence of insurance, in accordance with the division of duties)
17. Government financing guarantee agencies are encouraged to provide financing support to eligible msmes, to comply with their contractual obligation to pay compensation in a timely manner and to actively help enterprises affected by the epidemic to renew their loans. (offices of municipal finance, municipal finance, municipal industry and information division of responsibilities)
18. Encourage insurance institutions to optimize products and services and to use business interruption loss insurance to provide risk protection to catering enterprises and actively pursue claims settlement services. Subsidy payments are encouraged in conditional zones. (zianjin health insurance supervisory board, municipal business bureau, responsibility of the district people's governments in accordance with their responsibilities)
19. Subsidize catering enterprises for the elderly. According to the circular issued by the office of the municipal government on the pilot scheme for the advancement of the feeding service for the elderly (2019] no. 30) provides for a daily allowance of up to five meals per person per week, at a rate of $5 per meal (three dollars for the elderly and two dollars for the elderly) to be paid by the municipalities, with a 40 per cent transfer from the municipal finances, for persons who are domiciled in the municipality, older persons over 80 years of age and persons over 60 years of age who are under-insured (low-income) and have a serious level of care. Compensatory incentives may not be imposed on catering enterprises. (community business, municipal civil administration, municipal finance bureau, responsibility of the district people's governments in accordance with the division of responsibilities)
Iii. Retail trade relief and support measures
20. Encourage areas in a position to do so to conduct regular employee nucleic acid tests free of charge for retail enterprises and to provide subsidized support for the prevention and elimination of disease in enterprises. In 2022, at the request of the municipal and district epidemic control command, employees of retail enterprises who regularly conduct tests for nucleic acids were offered free of charge. (municipal business bureau, municipal finance bureau, responsibility of district people's governments, according to division of responsibilities)
Actively seeking funding for the development of the central fiscal services sector, supporting the development of district business systems, promoting “one-stop” and “three downs” (sinking supply chain, logistics distribution, goods and services). (differing of responsibilities by municipal business, municipal finance, municipal agricultural and rural councils)
22. Financial institutions in the banking sector are encouraged to increase credit support for emergency insurance, with a focus on nurturing and building businesses in private life, and to reduce interest rates on loans as appropriate. Inducing financial institutions to enhance information-sharing with authorities in the retail sector, using data such as trade flows for msmes and individual business owners, operating rentals and credit information available to the relevant authorities, to increase risk pricing capacity and credit lending. (c) encourage eligible retail enterprises to issue corporate credit-type bonds and diversify their financing channels. (city business, municipal finance, people's bank, tianjin branch, municipal development reform commission, tianjin certification authority, tianjin bank insurance supervisory authority, according to the division of duties)
23. Government financing guarantee agencies are encouraged to provide enhanced financing support to eligible retail msmes, to comply with their contractual obligation to pay compensation in a timely manner and to actively help enterprises affected by the epidemic to renew their loans. (offices of municipal finance, municipal finance, municipal industry and information division of responsibilities)
Iv. Tourism mitigation and support measures
24. The implementation of the 100 per cent moratorium on tourism service quality assurance policy for eligible travel agencies in 2022 has actively promoted the piloting of a guarantee guarantee insurance as an alternative to cash contributions to tourism service quality assurance. (city culture and tourism board, tianjin bank insurance board, according to the division of responsibilities)
25. To strengthen the cooperation of the bank in establishing a sound bank of demand for financing projects for priority tourism enterprises, leading banking financial institutions to increase their credit lines, as appropriate, to key cultural and tourism market players, such as eligible and promising tourist areas a, tourist resorts, rural tourism operators, star hotels and travel agencies. (offices of the municipal directorate of culture and tourism, the people's bank branch of tianjin, the municipal finance department, and tianjin's superintendence of insurance, in accordance with the division of duties)
26. In the procurement of services such as accommodation, conference, catering, etc., the government strictly implements the requirements of the negative list of municipal procurement in tianjin and strictly enforces the spending limit by not limiting the participation of the enterprises concerned in government procurement from the threshold of registered capital, total assets, operating income, practitioners, profits, taxes, stars, ownership, etc. (offices of the municipal finance bureau and the relevant district departments are divided according to their responsibilities)
27. Institutional business units are encouraged to refine the requirements for the development of programmes that conform to the prescribed trade union events, exhibition events, etc., organizational coordination to travel agents, clarification of the standards of service content services, etc., strengthening of the management of the use of funds, rational determination of the rate of advance payments and timely disbursement of funds to travel agents as contracted. (district people's governments, relevant departments and business units are responsible for the division of responsibilities)
28. Financial institutions in the banking sector are encouraged to increase the efficient supply of credit in the tourism sector in a rational manner. Establishment of risk-control mechanisms for financing priority enterprises. Financial institutions are encouraged to respond positively to the financing needs of enterprises in sectors such as cultural tourism, which are more affected by the epidemic, and to help them alleviate financial pressures by not neglecting to lend, to draw, to cut off, to borrow. Financial institutions are encouraged to reduce their interest rates on new loans and to offer them to tourism enterprises that have difficulty operating in production as a result of the epidemic. • encourage qualified tourism enterprises to issue corporate credit class bonds and broaden diversified financing channels. (offices of the people's bank, tianjin branch, municipal finance bureau, municipal culture and tourism department, municipal development reform commission, tianjin certification board, tianjin bank insurance board, in accordance with the division of duties)
29. Establish a bank of financing needs for msmes for msmes in areas such as eligible and expected well-developed travel agencies and tourism performances, strengthen policy guidance and enhance inclusive financial support. Banking financial institutions are encouraged to provide credit support to tourism-related start-ups, msmes and individual entrepreneurs. (offices of the municipal directorate of culture and tourism, the people's bank branch of tianjin, the municipal finance department, and tianjin's superintendence of insurance, in accordance with the division of duties)
V. Support measures for road and rail transport
30. In 2022, the prepayment of vat by railway transport enterprises was suspended for one year, in accordance with the circular of the general tax administration of the ministry of finance on the policy on vat for the promotion of the development of difficult industries in the service sector (ministry of finance, general tax administration no. 11 of 2022). (municipal tax office)
31. In 2022, the revenue from the provision of public transport services to taxpayers was exempted from vat in accordance with the circular of the general tax administration of the ministry of finance on the policy on vat to promote the development of vulnerable industries in the service sector (general tax administration no. 11 of 2022). The specific scope of public transport services is implemented in accordance with the provisions of the business tax conversion to value added tax (vat) pilot related matters (fiscal [2016] 36). (municipal tax office)
32. Timely disbursement of funds is carried out in accordance with the ministry of finance regarding the transfer of subsidies for the acquisition of new energy buses. (board of municipal finance, municipal transport committees, according to division of responsibilities)
33. Support for the construction of road, water and integrated freight hubs, and the transit system is based on the central fiscal subsidy of local funds for vehicle acquisition tax revenue in 2022. (board of municipal finance, municipal transport committees, according to division of responsibilities)
In response to the requests of the ministry of finance and the ministry of transport, a taxi subsidy programme for our city's “145” period was introduced to support taxis in accelerating their electricization. Finances at the municipal level are co-ordinated at all levels to further strengthen financial security for public transport operations. (responsible by division of responsibilities between the municipal finance department, the municipal transport and communications commission and the respective district people's governments)
35. Strengthen information-sharing and dynamic monitoring data, promote the interface between the universal registration system for movable property finance and the vehicle movable property registry system, achieve uniform access to the universal registration system for movable property finance, promote the use of movable property pledges by banking financial institutions to finance businesses and broaden access to business finance. Financial institutions are encouraged to increase their financial support to transport enterprises with high credit ratings and high responsibility for disease control and emergency transport, in accordance with the principle of marketability, and the competent authorities provide the list of enterprises to be consulted by financial institutions. • encourage qualified transport enterprises to issue corporate credit bonds and expand diversified financing channels. (offices of the people's bank, tianjin branch, municipal finance authority, municipal public security transfer authority, municipal transport and communications commission, municipal development reform commission, tianjin certification inspectorate, tianjin bank insurance supervisory board, according to the division of duties)
Vi. Support measures for the civil aviation industry
36. In 2022, the advance payment of vat by air transport enterprises was suspended for one year, in accordance with the declaration of the general tax administration of the ministry of finance on value added tax policies to promote the development of difficult industries in the field of services (general tax administration no. 11 of 2022). (municipal tax office)
37. Combining municipal financial resources to support such costs as detection of nucleic acids for first-line airport personnel. (board of municipal finance, municipal transport committees, according to division of responsibilities)
38. The disbursement of funds is carried out in a timely manner on the basis of transfers from the central treasury to our city's civil aviation development funds, such as aviation routes and security capacity-building. (office of municipal finance, municipal transport and transport board, civil aviation tianjin supervisory authority, tianjin airport, according to division of duties)
39. Financial banking institutions are encouraged to increase their credit support to hubs. :: encourage eligible airlines to issue corporate credit class bonds and broaden diversified financing channels. (city finance authority, municipal development reform commission, people's bank tianjin branch, tianjin certification authority, municipal transport commission, civil aviation tianjin supervisory authority, tianjin airport, according to the division of responsibilities)
Vii. Epidemic prevention and control measures
Strict, scientific and accurate disease prevention and control measures have been put in place to prevent and avoid the tendencies of “relax control” and “excessive control” and to effectively restore and maintain normal order in the development of services. (office of the municipal command for the prevention and control of the new coronary pneumonia disease, municipal health board, municipal business board, municipal culture and tourism board, municipal transport board, civil aviation tianjin supervisory authority, tianjin airport, district people's government, according to division of responsibilities)
From the website of the tianjin city development and reform commission
