Former Title: Several Policy Measures for Fiscal, Tax, and Financial Support to Sustain the Economic Recovery and Positive Momentum

To thoroughly implement the spirit of General Secretary Xi Jinping’s important instructions during his inspection tour of Sichuan, fully carry out the decisions and arrangements of the central, provincial, and municipal governments, focus on stimulating effective demand and fostering growth drivers, and continuously consolidate and strengthen the upward trend of economic recovery, the following policy measures are formulated in accordance with the spirit of the “Notice of the General Office of the People’s Government of Sichuan Province on Issuing the ‘Several Policy Measures to Continuously Consolidate and Strengthen the Upward Trend of Economic Recovery’” (Chuan Ban Gui [2024] No. 2), and in light of the actual conditions in Dazhou.

I. Implement Incentive Policies for High-Quality Development. To thoroughly analyze and assess the economic situation in 2024 and ensure the achievement of expected socio-economic development targets, we will implement incentive and accountability policies that promote concrete action toward high-quality development. The municipal government will provide financial incentives to counties (cities, districts) and municipal-level industrial parks that make outstanding contributions to the economy, encouraging all localities to spare no effort in boosting the economy and advancing development, thereby making greater contributions to the city’s high-quality socio-economic development.[Lead Agency: Municipal Finance Bureau; Responsible Agencies: Municipal Development and Reform Commission, Municipal Agriculture and Rural Affairs Bureau, Municipal Economy and Information Technology Bureau, Municipal Commerce Bureau, Municipal Bureau of Statistics; For the policies listed below, the people’s governments of all counties (cities, districts), the Dazhou High-Tech Zone Administrative Committee, and the Dazhou Eastern Economic Development Zone Administrative Committee are all responsible agencies and will not be listed separately]

II. Implement Tax Preferential Policies for Key Groups. Continue to implement tax preferential policies for entrepreneurship among eligible groups, including those who have been lifted out of poverty (including those under monitoring to prevent a relapse into poverty), registered unemployed persons, college graduates within their graduation year, and self-employed demobilized soldiers. For those engaged in individual business operations, starting from the month of individual business registration, a tax deduction of up to 24,000 yuan per household per year shall be applied over a period of 3 years (36 months), sequentially offsetting their actual annual tax liabilities for Value-Added Tax, Urban Maintenance and Construction Tax, Education Surcharge, Local Education Surcharge, and Individual Income Tax.(Lead Agency: Municipal Tax Bureau; Responsible Agencies: Municipal Finance Bureau, Municipal Human Resources and Social Security Bureau, Municipal Agriculture and Rural Affairs Bureau, Municipal Veterans Affairs Bureau)

III. Implement Tax Reduction and Exemption Policies for Small and Micro Enterprises. For VAT small-scale taxpayers, small and low-profit enterprises, and individual businesses, the following taxes shall be levied at half the standard rate: resource tax (excluding water resource tax), urban maintenance and construction tax, property tax, urban land use tax, stamp tax (excluding securities transaction stamp tax), arable land occupation tax, education surcharge, and local education surcharge.For individual business operators, personal income tax shall be levied at half the rate on the portion of annual taxable income not exceeding 2 million yuan; individual business operators may enjoy this preferential policy in addition to other existing personal income tax preferential policies. (Lead Agency: Municipal Tax Bureau; Responsible Agencies: Municipal Finance Bureau, Municipal Agriculture and Rural Affairs Bureau, Municipal Bureau of Economy and Information Technology, Municipal Commerce Bureau)

IV. Support for Reducing Enterprise Labor Costs. Continue to implement the policy of temporarily reducing the unemployment insurance contribution rate to 1%, with the employer’s contribution rate set at 0.6% and the employee’s contribution rate at 0.4%.Workers’ compensation insurance rates for industries classified as Categories I through VIII shall be uniformly set at 80% of the benchmark rates of 0.2%, 0.4%, 0.7%, 0.9%, 1.1%, 1.3%, 1.6%, and 1.9%, respectively.Enterprises that hire eligible individuals who have been lifted out of poverty (including those under monitoring to prevent relapse into poverty) or unemployed persons may deduct relevant taxes and fees at a fixed rate of 7,800 yuan per person per year for the actual number of employees hired, for a period of 3 years (36 months). (Lead Agencies: Municipal Human Resources and Social Security Bureau, Municipal Taxation Bureau; Responsible Agency: Municipal Finance Bureau)

V. Increase the Issuance of Manufacturing Loans.For county-level banking institutions (including direct business departments of municipal-level branches) that issue such loans at an average interest rate lower than the city’s average rate for similar loans in the current year, the finance department shall provide a subsidy equivalent to 1‰ of the institution’s average annual increase in the balance of such loans, with a maximum of 500,000 yuan per borrower. The subsidy funds shall be reviewed and disbursed in advance by the finance department at the same level as the lending entity, and the municipal finance department shall provide a special subsidy equivalent to 20% of the actual amount disbursed by the county (city, district) finance department.(Lead Agencies: Municipal Finance Bureau, People’s Bank of China Dazhou Branch; Responsible Agency: Municipal Bureau of Economy and Information Technology)

VI. Increasing Credit Limits for Key Industries. For banking institutions supporting the “3+3+N” key industries—including energy and chemicals, new materials, agricultural product processing, intelligent equipment manufacturing, electronic information, and light industry and textiles—as well as high-tech enterprises, specialized, refined, distinctive, and innovative enterprises, and technology-based small and medium-sized enterprises, a ranking will be established based on factors such as the citywide increase in loan balances and the growth rate of loan balances. The municipal finance department will award 1 million yuan, 750,000 yuan, and 500,000 yuan, respectively, to the top three institutions in the ranking.(Lead Agencies: Municipal Finance Bureau, People’s Bank of China Dazhou Branch; Responsible Agencies: Municipal Bureau of Economy and Information Technology, Municipal Science and Technology Bureau)

VII. Support for Reducing Corporate Financing Guarantee Rates. Actively leverage the role of government-backed financing guarantee institutions in providing credit enhancement through financing guarantees for small and micro manufacturing enterprises. For individual guarantee amounts of 5 million yuan or less (including 5 million yuan), the guarantee rate shall in principle not exceed 1% per annum;for guarantees between 5 million yuan and 10 million yuan (inclusive), the guarantee fee rate shall generally not exceed 1.3% per annum; and for guarantees exceeding 10 million yuan, the guarantee fee rate shall generally not exceed 1.5% per annum. (Lead Agencies: Municipal Finance Bureau, People’s Bank of China Dazhou Branch, Dazhou Regulatory Sub-bureau of the National Financial Supervisory Administration; Responsible Agencies: Municipal Bureau of Economy and Information Technology, municipal and county government-backed financing guarantee institutions)

VIII. Implementation of the Fiscal Interest Subsidy Policy for Consumer Credit. When banking institutions issue offline consumer loans with a term of one year or longer to residents within the city, and the loan purpose falls under one of the following four categories—automobile purchase, electronic products, home renovation, or durable goods such as home appliances and furniture—the finance department will provide residents with a one-time interest subsidy for a one-year period at an annual interest rate of 1.5%, with a maximum of 3,000 yuan per loan. Residents may receive interest subsidy support for up to two loans citywide.Except for the portion borne by the provincial government, the remaining interest subsidy funds will be shared by the municipal and county (city, district) governments in a 20:80 ratio. (Lead Agencies: Municipal Finance Bureau, People’s Bank of China Dazhou Branch)

IX. Encouraging Banks to Utilize Re-lending Funds for Agricultural and Small Business Support. Local legal-person banking institutions are encouraged to use re-lending funds from the People’s Bank of China to issue low-interest loans to small and micro enterprises (including individual business operators and owners of small and micro enterprises) and new types of agricultural business entities (including farmers), such as the “Small Business Support Loan” and “Agricultural Revitalization Loan.” The finance department will provide a one-time interest subsidy equivalent to 0.5‰ of the institution’s annual new loan disbursements.Interest subsidy funds shall be reviewed and disbursed in advance by the finance department at the same level as the lending entity; the municipal finance department shall provide a special subsidy equivalent to 20% of the actual amount disbursed by the county (city, district) finance department. (Lead Units: Municipal Finance Bureau, People’s Bank of China Dazhou Branch)

The application and disbursement of incentive funds shall follow a “fast application, fast access” approach and be distributed directly to market entities in accordance with the principle of “direct incentives.” Where this policy overlaps or is similar to other relevant policies, the “higher amount, no duplication” principle shall apply; existing incentive policies outside the scope of this policy shall continue to be implemented in accordance with current regulations. Except for policies where the municipal-county cost-sharing ratio has been explicitly defined, the funds required for policies introduced at the municipal level in this document shall be borne by the municipal government, while county-level governments may provide their own incentives based on actual conditions.County-level finance departments shall collect data on policy implementation and the disbursement of incentive funds on a monthly basis and report it to the municipal-level finance department, which shall issue monthly bulletins.

Unless otherwise specified, the effective period for the above policies shall be from April 1, 2024, to December 31, 2024.