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在线翻译:
szdaily -> Business
Small firms get financial support
    2017-November-7  08:53    Shenzhen Daily

THE government will exempt banks’ interest income from loans to small firms and rural households from value added tax, authorities said yesterday, in the latest step to address a long-standing issue of lack of financing to small firms.

The policy will be in effect from Dec. 1, 2017 to the end of 2019, the Ministry of Finance and the State Administration of Taxation said, while contracts for loans with small firms will also be free of stamp taxes from 2018 to 2020.

The supportive policies will apply to loans of 1 million yuan (US$150,750) or less.

China has been looking for ways to encourage more financial support to the country’s millions of small firms for years.

The central bank in September cut the amount of cash that must be held as reserves for banks that meet certain requirements for lending to small businesses and the agricultural sector.

By the end of June, outstanding loans from financial institutions to small and micro-sized businesses reached 22.6 trillion yuan, nearly double the amount at the end of 2012, accounting for 32 percent of total loans to all businesses.(SD-Agencies)

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Shenzhen Daily E-mail:szdaily@szszd.com.cn