Yue Fu [2023] No. 23
People’s Governments at or Above Prefectural-Level Cities, Departments and Organizations Directly under the Provincial People’s Government,
We hereby distribute the Several Policies and Measures of Guangdong Province for Energizing Enterprises and Promoting High-Quality Development for your implementation. If you encounter any problem implementing these policies and measures, please report directly to the Guangdong Provincial Development and Reform Commission.
People’s Government of Guangdong Province
February 28, 2023
Several Policies and Measures of Guangdong Province for Energizing Enterprises and Promoting High-Quality Development
In line with the spirit of the 20th CPC National Congress and the Central Economic Work Conference, these policies and measures have been formulated to fully implement the arrangements of the Second Plenary Session of the 13th Provincial Party Committee, Economic Work Conference of the Provincial Party Committee and the High-Quality Development Conference of Guangdong Province, further boost the confidence of market players, stimulate the vitality of enterprises, and make solid progress in improving the overall economic performance, thereby steadily improving the development quality while ensuring reasonable growth.
I. Increasing Fiscal, Tax and Financial Support
(I) We will implement national measures for reducing taxes and fees. Small-scale taxpayers with monthly sales of 100,000 yuan or less will be exempted from VAT; small-scale taxpayers whose applicable VAT rate is 3% will be levied at the reduced rate of 1%, and small-scale taxpayers whose applicable pre-collect rate is 3% will be levied at the reduced rate of 1%. For small-scale taxpayers, small enterprises with low profits and self-employed individuals, the six type of taxes and two types of fees will be collected at a reduced rate. High-tech enterprises, service enterprises with advanced technology and small enterprises with low profits will be exempted from corporate income taxes pursuant to relevant provisions. (Responsible departments/institutions: Provincial Department of Finance, Provincial Tax Service, Shenzhen Tax Service)
(II) We will implement VAT policies supporting certain industries. All the newly added VAT credits will be refunded to specific state-specified industries or micro and small businesses on a monthly basis. Production-oriented service taxpayers will be allowed an extra 5% deduction on the basis of the input VAT deductible in the current period. Consumer-oriented service taxpayers will be allowed an extra 10% deduction on the basis of the input VAT deductible in the current period. (Responsible departments/institutions: Provincial Tax Service, Shenzhen Tax Service, Provincial Department of Finance)
(III) The policy of temporary premium reduction for work-related injury insurance and unemployment insurance will be continued in line with the overall national arrangements until April 30, 2023. Among them, the base rate for unemployment insurance will continue to be 1% and the floating rate policy will continue to be implemented; for work-related injury insurance, contribution by the enterprise will be temporarily reduced by 20% while the industry’s existing base rate and floating rate policy will be implemented as usual. (Responsible departments/institutions: Provincial Human Resources and Social Security Department, Provincial Department of Finance, Provincial Tax Service, Shenzhen Tax Service)
(IV) For old-age, unemployment and work-related injury insurance premiums held over in 2022, enterprises will be allowed to make them up by installment or on a monthly basis before the end of 2023. Late fees will be waived if payment is made before this time limit. (Responsible departments/institutions: Provincial Human Resources and Social Security Department, Provincial Department of Finance, Provincial Tax Service, Shenzhen Tax Service)
(V) Financial institutions will be encouraged to launch special credit programs for micro and small businesses. The coverage and size of small loans will be expanded, and loan costs will be reduced through the use of inclusive-finance support tools. For inclusive-finance small loans issued by local corporate financial institutions, incentive funds will be provided at 2% of the increase in loan balance. (Responsible departments/institutions: People’s Bank of China Guangzhou Branch, People’s Bank of China Shenzhen City Center Subbranch, Guangdong Office of China Banking and Insurance Regulatory Commission, Shenzhen Office of China Banking and Insurance Regulatory Commission, Guangdong Financial Supervisory Authority)
(VI) We will reduce the burden of financing guaranty fees on micro and small businesses. For government financing guarantee agencies in Jiangmen, Huizhou and Zhaoqing, as well as in Eastern, Western and Northern Guangdong, each new micro and small business financing guarantee will be subsidized at 0.5% of the actual loan amount if the single-borrower guarantee amount is less than 10 million yuan and the average annualized guarantee rate is 1.5% or less. (Responsible departments/institutions: Guangdong Financial Supervisory Authority, Provincial Department of Finance)
(VII) The mechanism of re-guarantee repayment compensation and mechanism of providing subsidy to reduce guarantee fees will be improved. For micro and small businesses financing guarantees included by the Provincial Financing Re-guarantee Institution in the scope of national financing guarantee fund, 50% of the actual repayment will be compensated and an appropriate proportion of the re-guarantee fee will be subsidized. (Responsible departments/institutions: Guangdong Financial Supervisory Authority, Provincial Department of Finance)
(VIII) Certain interest subsidies will be provided to eligible loans of micro, small and medium enterprises (MSMEs) in the manufacturing industry issued via the Guangdong Provincial Small and Medium Enterprise Financing Platform. (Responsible departments/institutions: Guangdong Financial Supervisory Authority, Provincial Department of Finance)
(IX) We will improve the technology credit risk reserve policy, and gradually expand the scope and size of the reserve. For non-performing loans generated by debt-based financial support provided by banking institutions to various S&T innovation entities in support of their research activities, the principal will be compensated to certain extent. (Responsible departments/institutions: Provincial Department of Science and Technology, Guangdong Financial Supervisory Authority, Provincial Department of Finance)
(X) Financial institutions will be guided toward supporting MSMEs in the pledge of accounts receivable and other financing activities. Before June 30, 2023, supply chain core enterprises that have aided small and medium enterprises in obtaining receivables financing, as confirmed via the Credit Reference Center’s Receivables Financing Service Platform, will be rewarded for up to 1% of the annualized financing amount. (Responsible departments/institutions: People’s Bank of China Guangzhou Branch, People’s Bank of China Shenzhen City Center Subbranch, Guangdong Office of China Banking and Insurance Regulatory Commission, Shenzhen Office of China Banking and Insurance Regulatory Commission, Guangdong Financial Supervisory Authority, Provincial Department of Finance, Provincial Department of Industry and Information Technology)
II. Moving Faster to Restore and Boost Consumption
(XI) We will implement the policy of exempting new energy vehicles (NEVs) from vehicle purchase tax, and encourage cities with requisite conditions to introduce policies in support of vehicle trade-in, vehicles going to the countryside, and NEV purchase. Provincial automobile-themed consumption promotions will be held, and automatable enterprises will be encouraged to launch the “NEV going to the countryside” campaign. In Guangzhou and Shenzhen, total number of cars will be controlled, and car application quotas will be loosened temporarily. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Department of Commerce, Provincial Department of Ecology and Environment, Provincial Public Security Department, Provincial Department of Industry and Information Technology, Provincial Tax Service, Shenzhen Tax Service)
(XII) We will improve the model of investing in, building and operating NEV charging piles (stations), and adopt local standards for the construction of urban parking facilities. Installation of charging facilities at existing parking spaces will be exempted from planning, land use and construction approval procedures. The ultimate goal is to ensure 100% charging facilities coverage at residential areas with requisite conditions and commercial parking lots. We will accelerate the construction of charging piles (stations) at expressway service area, as well as charging infrastructure along highways. More than 21,000 new charging piles will be built in 2023. (Responsible departments/institutions: Provincial Department of Housing and Urban-Rural Development, Provincial Energy Bureau, Provincial Department of Transport, Provincial Department of Natural Resources)
(XIII) We will completely abolish the relocation restriction policy on second-hand vehicles. The policy that allows the relocation of existing used light cars meeting the national five emission standards will continue to be implemented after it expires on June 30, 2023. Parallel imports of finished automobiles will been encouraged in Guangzhou, Shenzhen and Dongguan. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Development and Reform Commission, Provincial Department of Ecology and Environment, Provincial Public Security Department, Provincial Tax Service, Shenzhen Tax Service)
(XIV) We will improve the circulation and management of second-hand cards, and abolish unreasonable restrictions on used card trading. We will fully implement the policy to lower VAT tax on used car transactions by eligible second-hand car dealers from 2% to 0.5% and to allow enterprises issue a uniform invoice for the sale of used cars. In Guangzhou and Shenzhen, used cars purchased by automobile sales enterprises for sale will not be included in the license plate number quota. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Administration for Market Regulation, Provincial Department of Transport, Provincial Public Security Department, Provincial Tax Service, Shenzhen Tax Service)
(XV) In various cities, manufacturers and distributors of household appliances and other products will be encouraged to launch promotions that benefit the people. Household appliance manufacturers will be supported to adopt the system of accountability for household appliance recycling. We will guide financial institutions toward enhancing their financial service capabilities, and devote greater efforts to promote the sale of green and smart household appliances, smartphones, and wearable devices. Cities with better composite consumption performance will be rewarded. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Development and Reform Commission, Provincial Department of Industry and Information Technology, Provincial Department of Finance)
(XVI) We will uphold the principle that housing is for living in, not for speculation, and ensure the primary responsibility of cities. We will continue to improve the policy toolbox for real estate control, and optimize real estate policies in a timely manner. We will adjust our policies to local conditions and strongly support people in buying their first homes or improving their housing situation. Land sales policy will be improved as well. We will implement the individual income tax policy for residents replacing their housing and ensure that housing provident fund loans mainly support first-time home buyers. (Responsible departments/institutions: Provincial Department of Housing and Urban-Rural Development, People’s Bank of China Guangzhou Branch, People’s Bank of China Shenzhen City Center Subbranch, Guangdong Office of China Banking and Insurance Regulatory Commission, Shenzhen Office of China Banking and Insurance Regulatory Commission, Provincial Tax Service, Shenzhen Tax Service, Provincial Department of Natural Resources, Provincial Department of Finance)
(XVII) We will support the reasonable financing needs of the real estate sector. In particular, we will see that reasonable extension policy for stock financing such as development loans, trust loans and corporate bonds are implemented and produce the desired results. We will make full and proper use of national loan for specific items, and encourage financial institutions to increase supportive financing. We will do all we can to ensure the on-time delivery of housing buildings and effectively protect the interests of home buyers. (Responsible departments/institutions: People’s Bank of China Guangzhou Branch, People’s Bank of China Shenzhen City Center Subbranch, Guangdong Office of China Banking and Insurance Regulatory Commission, Shenzhen Office of China Banking and Insurance Regulatory Commission, Guangdong Office of China Securities Regulatory Commission, Shenzhen Office of China Securities Regulatory Commission, Guangdong Financial Supervisory Authority, Provincial Department of Housing and Urban-Rural Development)
(XVIII) All localities will be guided and urged to improve, in line with national requirements, the policy for supervising the pre-sale funds of commercial housing and strengthen supervision of the specified amount of funds to ensure they are used for the specified purpose only. Funds in excess of the regulated limit can be collected and used by real estate developers to supplement their capital flow. (Responsible departments/institutions: Provincial Department of Housing and Urban-Rural Development, People’s Bank of China Guangzhou Branch, People’s Bank of China Shenzhen City Center Subbranch, Guangdong Office of China Banking and Insurance Regulatory Commission, Shenzhen Office of China Banking and Insurance Regulatory Commission)
(XIX) We will make good use of special funds for cultural, tourism and sports development to expedite the recovery of the cultural, tourism and sports industries. The tourism service quality deposit will continue to be fully refunded to eligible travel agencies until March 31, 2024, so as to promote the recovery of inbound and outbound tourism in a well-regulate way. (Responsible departments/institutions: Provincial Department of Culture and Tourism, Provincial Sports Bureau, Provincial Department of Commerce)
(XX) We will accelerate commercial development in counties by promoting upward movement of agricultural products, and downward movement of the supply chain, logistics distribution, and goods & services. Efforts to build and upgrade county-wide circulation service network will be supported; centralized procurement and distribution centers will be set up in counties and integrated service stations for agricultural products will be planned. We will guide retail businesses to expand the county market and sell quality goods and services to the “sinking markets”. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Department of Transport, Provincial Department of Finance, Provincial Department of Agriculture and Rural Affairs, Provincial Supply and Marketing Cooperative)
III. Expanding Effective Investment
（XXI）We will fully leverage the coordination role of the Provincial Command for Major Projects, and develop a list of the Provincial Command’s major projects. The task of investing one trillion yuan in major projects this year will be split up and detailed plans will be made to implement it; supervision and follow-up service for project construction will be strengthened. (Responsible department: Provincial Development and Reform Commission)
（XXII）We will cultivate a number of major strategic projects for integration into the national program, and strive for national land, fund and other policy support. We will align efforts to advance the construction of the 102 major projects listed in the 14th Five-Year Plan for Economic and Social Development as long as it touches on Guangdong and ensure that more projects are included in the National Major Project Library. (Responsible department: Provincial Development and Reform Commission)
(XXIII) We will issue and implement standardized guidelines for preliminary work of projects in water conservancy, transportation, energy, ecological environment, municipal administration, civil architecture, new-type infrastructure, and other areas. We will launch pilots of “advancing” preliminary work of major projects to effectively improve the work quality. (Responsible department: Provincial Development and Reform Commission)
(XXIV) We will strengthen the dedicated team mechanism for parallel examination and approval of provincial major projects, and improve the process and sequence of project approval. We will implement relevant measures in accordance with the laws and regulations, such as the measure to exempt construction projects from environmental impact assessment procedures, approve project by way of notification and commitment, and simplify the contents of environmental impact assessment. We will explore to extend the application of the “commitment system” and determine the items that may be handled with incomplete materials on a project-by-project basis to raise the overall approval efficiency. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Department of Natural Resources, Provincial Department of Ecology and Environment)
(XXV) The Joint Conference of Land, Marine and Forest Resources Support for Major Projects in Guangdong Province will be leveraged to formulate the annual list of natural resources guarantee for major projects. Efforts will be coordinated to ensure land quotas, forest quotas, and other natural resources for major projects. (Responsible department: Provincial Department of Natural Resources)
(XXVI) We will implement the policy of separate energy consumption arrangement for major projects in a well-regulated way to meet rational energy needs of major national and provincial projects. We will do our best to ensure the energy demands of new projects whose energy consumption per unit of industrial added value is below the provincial control level by 2025. By shutting down outdated production facilities, conducting technological transformation to save energy and developing renewable energy, we will work to meet the energy demand of projects that reinforce, upgrade and extend links in the industrial and supply chains. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Energy Bureau)
(XXVII) We will strive for special bonds of local governments and central policies such as policy-based, developmental financial instruments to increase funding support for the preliminary work of major projects in the province. We will develop funding plans on a project-by-project basis to guarantee demand for construction funds and ensure they form a closed loop. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Department of Finance)
(XXVIII) We will improve the policy system that promotes private investment, formulate the implementation plan for Guangdong Province to support the development of private investment, and encourage the participation of nongovernmental capital in major projects. We will recommend high-quality investment projects to private capital on a routine basis, and effectively drive private investment through public investment and government incentives. (Responsible department: Provincial Development and Reform Commission)
(XXIX) With a focus on strategic pillar industry clusters such as new energy and intelligent connected vehicles, bio-medicine, as well as strategic emerging industry clusters such as semiconductor and integrated circuits, new energy storage, offshore wind power and hydrogen energy, we will create a number of application scenarios and new innovation demands for new technologies, new industries and new models. On this basis, a batch of investment targets that appeal to private capital will be cultivated to boost the confidence of private investors. (Responsible department: Provincial Development and Reform Commission)
(XXX) We will support the real estate investment trust (REIT) pilots for the participation of private investment projects in infrastructure, and promote public-private partnership (PPP) in a well-planned way. (Responsible department: Provincial Development and Reform Commission)
IV. Keeping Foreign Trade and Foreign Investment Stable
(XXXI) We will fully resume land transportation between Guangdong and Hong Kong, remove all restrictive measures, and further streamline the process to facilitate travel. All localities are encouraged to open up or increase international sea and air freight routes directly connecting Guangdong with Europe, America, Japan, South Korea, ASEAN, BRICS and other key markets. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Department of Transport, Guangdong Sub-Administration of GACC, CAAC Central and Southern Region Administration)
(XXXII) We will support enterprises to attend important offline exhibitions such as the Canton Fair, and hold more than 100 “Guangdong Trade Worldwide” overseas exhibitions. We will support 10,000-plus enterprises in expanding international markets, and focus on expanding key markets with exports worth more than 100 billion yuan. We will help enterprises grab global orders by making it easy for them to attend exhibitions overseas and for international buyers to purchase in China. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Department of Finance, CCPIT Guangdong Sub-Council, Guangdong Association of Industry and Commerce)
(XXXIII) We will optimize the Catalogue of Products with Import Interest Subsidy and ensure all the necessary products enjoy import subsidies to promote the import of advanced technologies and products. We will formulate and implement the plan for constructing the six major import bases and effectively expand the import of major commodities, electronic parts & components, airplanes, automobiles, agricultural and sideline products, and middle and high-end consumer goods. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Department of Industry and Information Technology, Provencal Department of Finance)
(XXXIV) Guangdong Province will work jointly with various cities under its jurisdiction to build a number of “industry cluster plus cross-border e-commerce” pilots. 15 cross-border e-commerce industrial parks will be fostered, and 15 leading cross-border e-commerce enterprises will be cultivated with a size of over one-billion yuan each. Special support policy for overseas warehouses will also be introduced. We will provide one-on-one service to top 200 processing trade enterprises in the province and further improve the model of processing trade regulation. (Responsible departments/institutions: Provincial Department of Commerce, Guangdong Sub-Administration of GACC)
(XXXV) We will enhance export credit insurance services and policy financing for key industries and major markets. No less than 100 billion USD of coverage will be supported in 2023. Insurance companies on the record will be supported to provide short-term export insurance services in accordance with the law if they are willing to do so. (Responsible departments/institutions: Provincial Department of Commerce, Guangdong Financial Supervisory Authority, Guangdong Sub-Administration of GACC, People’s Bank of China Guangzhou Branch, People’s Bank of China Shenzhen City Center Subbranch, Guangdong Office of China Banking and Insurance Regulatory Commission, Shenzhen Office of China Banking and Insurance Regulatory Commission, China Export & Credit Insurance Corporation Guangdong Branch)
(XXXVI) We will speed up the construction of major foreign funded projects including ExxonMobil Huizhou Ethylene Project, BASF (Guangdong) Integrated Base Project and CSPC Phase III Project. We will fully leverage the role of the through-train mechanism for direct contact between provincial leadership and multinational companies, and establish a sound mechanism for regular exchanges with foreign business associations and foreign enterprises in the province. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Department of Industry and Information Technology, Provincial Department of Science and Technology, Provincial Department of Commerce)
(XXXVII) The Catalogue of Encouraged Industries for Foreign Investment will be fully implemented. Foreign enterprises may go through the procedures for tax reduction or exemption with the competent customs authority by presenting the confirmation results of encouraged projects issued by the development and reform, commercial and other departments. We will support foreign enterprises to set up a high-tech R&D center; eligible foreign R&D centers that import technology development supplies in accordance with relevant regulations will be exempted from import duties, import VAT and consumption tax. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Department of Science and Technology, Provincial Department of Industry and Information Technology, Provincial Department of Commerce, Guangdong Sub-Administration of GACC)
(XXXVIII) We will further expand the cross-border financing channels for enterprises, and support high-tech, top-notch, specialized and innovation-driven enterprises with requisite conditions to carry out foreign debt facilitation pilots. (Responsible departments/institutions: Guangdong Financial Supervisory Authority, People’s Bank of China Guangzhou Branch, People’s Bank of China Shenzhen City Center Subbranch, Guangdong Office of the State Administration of Foreign Exchange, Shenzhen Office of the State Administration of Foreign Exchange)
(XXXIX) A list of representative foreign projects in the manufacturing sector will be created. Manufacturing projects with a total investment of more than 100 million USD, whether under negotiation, construction or in production, will be coordinated through the mechanism of joint conference on the utilization of foreign capital in Guangdong province, with a focus on solving problems relating to the use of sea, logistics, labor, energy consumption, environmental assessment, and entry of foreign employees. Eligible foreign projects will be recommended in time to list as a major national foreign investment project. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Development and Reform Commission, Provincial Department of Industry and Information Technology)
V. Promoting Industrial Optimization and Upgrade
(XL) The Provincial Department of Finance will provide financial support to the research and development institutions of Chinese and foreign universities, scientific research institutions and industry-leading enterprises if they are recognized as a provincial new-type R&D institution. (Responsible departments/institutions: Provincial Department of Science and Technology, Provincial Department of Finance)
(XLI) We will launch the industrial investment surge program to ensure double-digit growth of industrial investment in Guangdong in 2023. We will establish the work mechanism of provincial leaders coordinating major projects, and improve whole-process service for the development of major industrial projects. (Responsible departments/institutions: Provincial Department of Industry and Information Technology, Provincial Development and Reform Commission)
(XLII) The “Double Increase” action plan of Guangdong for industrial technology transformation will be implemented. In 2023, we will promote technological transformations at 9,000 industrial enterprises and aid 5,000 industrial enterprises above designated size in realizing digital transformation. The subsidized loan policy for equipment purchase and upgrading will be carried out to provide eligible projects with interest subsidy of 2.5% for up to 2 years. (Responsible departments/institutions: Provincial Department of Industry and Information Technology, Provincial Development and Reform Commission, Provincial Department of Finance, Guangdong Financial Supervisory Authority)
(XLIII) We will promote the construction of modern agricultural industrial parks and agricultural modernization demonstration zones. More than 300 modern agricultural industrial parks will be established and 100 mu (about 6.67 hectares) high-standard farmlands will be cultivated. One-million mu farming ponds will be upgraded and fishing ports will be constructed. We will also adopt special measures to develop modernized marine ranching, deep sea and open sea farming, and foster a number of modern marine ranching enterprises. (Responsible department: Provincial Department of Agriculture and Rural Affairs)
(XLIV) We will vigorously develop R&D, design services, modern logistics, supply chain management, digital trade, software and information technology services, carry out the special campaign of industrial design-empowered Guangdong, nurture more than 30 new provincial industrial design centers, and stage the “Governor Cup” Industrial Design Competition successfully. (Responsible departments/institutions: Provincial Department of Industry and Information Technology, Provincial Development and Reform Commission, Provincial Department of Finance, Provincial Department of Science and Technology, Provincial Department of Transport)
(XLV) We will advance industrial transfer in a well-planned way, and build from a high standard 15 main platforms for hosting industrial transfer and 7 large industrial clusters. Both the carrying capacity and functions of industrial parks in Guangdong will be improved. We will formulate and practice a differentiated support policy to high-tech zones, economic development zones, industrial transfer parks and other platforms in the province. Through assessment monitoring and targeted evaluation, we will implement relevant reward and punishment measures, such as positive incentive and the system of last place being eliminated, to ensure the quality of industrial parks. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Department of Industry and Information Technology, Provincial Department of Science and Technology, Provincial Department of Finance)
(XLVI) We will set up a sound system to hold municipal leaders accountable for investment promotion, and implement the global investment advisory program. We will create brand activities of investment attraction, and institutionalize major investment promotion campaigns including the GBA Global Investment Conference, World Guangdong Entrepreneurs Convention, and the PRD-Eastern, Western & Northern Guangdong Economic & Trade Cooperation and Investment Fair. We will establish an investment promotion matching platform, update investment database and investment map dynamically to raise the investment promotion efficiency. (Responsible departments/institutions: Provincial Department of Commerce, Provincial Development and Reform Commission, Provincial Department of Industry and Information Technology, Provincial State-owned Assets Supervision and Administration Commission, Provincial Government Service Data Authority, Guangdong Association of Industry and Commerce)
(XLVII) The special program for gradient cultivation of high-quality enterprises will be strengthened. More than 40 provincial level industrial-chain leaders, 200 provincial level enterprises with strengths in certain areas, 250 top-notch, specialized and innovation-driven “little giant” enterprises, and 2,000 provincial level top-notch, specialized and innovation-driven SMEs will be selected, and policy resources and production factors will be weighted toward them. (Responsible department: Provincial Department of Industry and Information Technology)
(XLVIII) We will introduce several measures to boost the principal role of enterprises in innovation, and improve the ecology for innovation-driven development of enterprises. We will support high-tech enterprises to set up industrial benchmarks and upgrade their performance, and devote major efforts to incubate technology-leading enterprises. We will provide basic research grants to enterprises, guide universities, research institutions, provincial labs and major S&T infrastructure to share instruments and equipment with enterprises. A batch of new provincial engineering technology research centers and provincial enterprise technology centers, and other research platforms, will be cultivated. The measures for supporting innovative development of S&T enterprises through technology venture capital, credit, insurance and multi-level capital market will be optimized. (Responsible departments/institutions: Provincial Department of Science and Technology, Provincial Department of Industry and Information Technology, Provincial Department of Finance, Provincial Development and Reform Commission, Provincial Department of Education, Guangdong Financial Supervisory Authority, People’s Bank of China Guangzhou Branch, People’s Bank of China Shenzhen City Center Subbranch, Guangdong Office of China Banking and Insurance Regulatory Commission, Shenzhen Office of China Banking and Insurance Regulatory Commission, Guangdong Office of China Securities Regulatory Commission, Shenzhen Office of China Securities Regulatory Commission)
(XLIX) The R&D expenses actually incurred by manufacturing enterprises and technology-oriented SMEs in carrying out R&D activities, having not been recorded as the profit or loss of the current period as intangible assets, will be allowed an additional pre-tax deduction at 100% of the actual amount besides statutory deduction on actual basis; where intangible assets have been derived, the R&D expenses shall be amortized before tax at 200% of the cost of intangible assets. (Responsible departments/institutions: Provincial Tax Service, Shenzhen Tax Service, Provincial Department of Science and Technology, Provincial Department of Finance)
(L) The newly purchased equipment and appliances of enterprises, whose unit value does not exceed 5 million yuan, may be included in period costs and deducted when calculating the taxable income without being depreciated annually. This rule shall be implemented until December 31, 2023. (Responsible departments/institutions: Provincial Tax Service, Shenzhen Tax Service)
VI. Improving the Business Environment
(LI) We will issue the opinions on promoting the development of private economy in Guangdong province, ensure all private enterprises participate in fair market competition, and protect their lawful rights and interests. The public service systems will be improved to better serve the private economy. We will timely understand and report the reasonable demands of private businesses and entrepreneurs, and safeguard their legitimate rights and interests in accordance with the law. (Responsible departments/institutions: Provincial Department of Industry and Information Technology, Guangdong Association of Industry and Commerce)
(LII) We will work to foster a cordial and transparent relationship between government and businesses, and perfect the mechanism of communication and coordination between them. We will improve the provincial trans-department “one-stop” online publishing platform for enterprise-related policies. The services of the market entity complaint response platform will be further strengthened. We will put in place a robust work system of rights protection for small and medium enterprise, smooth out the channels for them to express their demands, and resolve problems related to enterprise development in a coordinated way. (Responsible departments/institutions: Provincial Department of Industry and Information Technology, Provincial Government Service Data Authority, Guangdong Association of Industry and Commerce)
(LIII) We will implement the government procurement policy to promote the development of small and medium enterprises. For government procurement projects, the procurement packages will be divided reasonably based on project features, discipline and area of specialization. We will expand joint bidding and subcontracting by large business, and lower the threshold for SME participation. Where SMEs are suitable suppliers, certain portion of the project will be reserved and oriented to SMEs. (Responsible departments/institutions: Provincial Department of Finance, Provincial Department of Industry and Information Technology)
(LIV) Hierarchical and classified credit supervision will be applied across the board; policies and measures will be introduced to build a high-standard credit service market. A list of light penalties and exempts relating to enterprises will be drawn up. Market entities committing illegal acts will be given no or lighter punishment according to the law if the circumstances are obviously minor or produce no obviously harmful consequences. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Administration for Market Regulation, Provincial Department of Justice)
(LV) We will closely combine the addressing of illegal charges on enterprises with efforts to implement relief policies for enterprises, improve the business environment, and unlock market vitality. Illegal charges on enterprises will be rectified thoroughly. We will implement the system of disclosing overdue SME payments by organs, public institutions and large businesses, and establish a collaborative governance and credit rewarding & punishing system. (Responsible departments/institutions: Provincial Development and Reform Commission, Provincial Department of Industry and Information Technology, Provincial Administration for Market Regulation, Provincial Department of Finance, Provincial Department of Civil Affairs)
(LVI) We will reduce the transportation costs of enterprises. Qualified regions/cities will be encouraged to adopt varied toll preferential measures for expressways within their jurisdictions through government purchase of services. Expressway operation and management units will be supported to apply differentiated vehicle tolls decrease from the upper standard approved by the provincial people’s government. (Responsible department: Provincial Department of Transport)
(LVII) We will continue to carry out the 1,000 Employment Service Specialists Aiding 10,000 Key Enterprises Campaign, and provide enterprises such services as internship, laborer coordination, special recruitment, talent attracting, and skill training. Regions with requisite conditions will be encouraged to adopt intensive measures in supporting key employment enterprises to recruit workers. The new Guangdong businessmen training program will be pushed forward to provide free training to 5,000 plus middle-to-senior managers and technical experts for small and medium enterprises and service agencies. (Responsible departments/institutions: Provincial Human Resources and Social Security Department, Provincial Department of Industry and Information Technology)
(LVIII) We will support Guangzhou and Shenzhen in developing national-level pilots in business environment innovation, and set up provincial demonstration sites for comprehensive reform of the business environment. We will establish a pairing assistance mechanism for business environment, and promote the alignment of Eastern, Western and Northern Guangdong with advanced PRD cities to improve their quantitative indicators in this regard. (Responsible department: Provincial Development and Reform Commission)
(LIX) We will speed up the building of a provincial integrated government services platform, and comprehensively improve the supporting capacity of the province’s uniform application & acceptance platform. We will promote system interconnectivity and collaboration of departments at all levels to ensure enterprise-related service items are accepted without discrimination and processed according to the same standard across the province. This will allow all administrative affairs relating to enterprises to be handled on the same platform. (Responsible department: Provincial Government Service Data Authority)
All localities and departments should raise their senses of responsibility, and work out detailed implementation rules based on actual conditions to ensure the proper implementation of these measures. They shall strengthen supervision on the implementation process, and improve policy publicity, interpretation and tracking so that they directly reach the primary level and benefit market players. In this way, we aim to significantly boost confidence in our determination to stabilize growth and promote high-quality development.
The above policies and measures will be implemented from the date of promulgation and remain valid until December 31, 2023. Where a clearly-defined time limit for implementation or specific state provisions apply, such provisions shall prevail.
