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Jingzhou Issued Opinions on Promoting Rapid and Healthy Growth of Private Sector
Updated: 2019-02-21 16:10:35

To implement the principles set by CPC General Secretary Xi Jinping in his speech at the workshop of private companies, and promote rapid and healthy growth of private companies in Jingzhou, the CPC Jingzhou Municipal Committee and Jingzhou Municipal Government jointly issued the Opinions about Promoting Rapid and Healthy Growth of Private Sector. 

The Opinions raised special requirements in six aspects, namely, optimizing the pro-business environment, alleviating burdens on private companies, solving the problem of difficult and expensive financing for private companies, working hard to solve the problem of short supply of laborers,pushing forward transformation and upgrading of private companies and enhancingbuilding of assurance system. 

In terms of alleviating burdens on private companies, Jingzhou will implement the tax-preferential policies, take the measures to reduce expenses and lower down the cost of factors. The Opinions proposed reducing the electricity cost for small and micro enterprises, and providing zero-cost access for users installing KVA power facilities and below; when confirming the minimum land price, and offering the longest period, 70% of the minimum industrial land price can be executed, which is corresponding to the land grade. 

In terms of solving the difficult and expensive financing for private companies, Jingzhou will guide the financial institutions to enhance investment, encourage the companies to make direct financing, enhance the building of guarantee system, and implement the active fiscal policies. It will adopt the incentives for IPO of companies in stages. For the companies making IPO in Shanghai or Shenzhen Stock Exchange, Jingzhou will provide 10million RMB bonus. For Jingzhou enterprises making back-door IPO in otherregions and relocating the corporate registration to Jingzhou, Jingzhou willprovide 8 million RMB once and for all after such IPO is recognized by theProvincial IPO Office. The city is active to contact the National FinancingGuarantee Foundation and Provincial Re-guarantee Group, the ProvincialAgriculture Credit Guarantee Company. The municipal finance bureau will arrange20 million RMB risk fund to cooperate with the provincial re-guarantee business. 

In terms of solving the problem of short supply oflaborers, Jingzhou will speed up HR introduction and cultivation, implement theHR policies, solve the problem of short labor supply in various means andimprove the infrastructures in the park. The municipal finance bureau willarrange 6 million RMB special HR fund for the purpose of introduction of HR andIPR. 

In terms of promoting transformation and upgrading ofprivate companies, Jingzhou will speed up corporate technical reform, fosterand develop the pillar enterprise, and support the companies for externalcooperation. The city will implement the Technical Reform Project for 1,000Enterprises worth 100 billion RMB. By 2020, more than 90% of the industrialenterprises above the designated scale in the city will implement the technicalreform, encourage robotics to replace workers and make sure the covering-allupgrading of production equipment. The special fiscal fund of development willprovide some subsidies for newly-introduced companies in Fortune Top 500 andheadquarters or regional headquarters of HR service companies listed in and outof China. Based on the subsidies from the provincial fiscal bureau for thepremiums of companies exporting more than 5m USD worth of goods in the exportcredit assurance, Jingzhou will provide 20% subsidy (200,000 RMB at most) for thepart paid by the companies.


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