BEIJING, Jan. 3 (Xinhua) -- North China’s Tianjin Municipality recently released 19 measures to promote private enterprise development, reported the Xinhua-run cnstock.com.
The measures aim to reduce private enterprises’ operating cost, facilitate their financing, enhance their core competitiveness, create a level playing field, safeguard private enterprises’ legitimate rights and interest, and improve services to those enterprises, according to the report by Tianjin Daily on January 2, 2019.
Specifically, the municipality is expected to cut private enterprises’ cost up to 14 billion yuan in total through policies such as reducing administrative fees, suspending increase in corporate social insurance contribution base while returning social insurance premiums, standardizing intermediary fees and various deposits, and issuing other measures for lowering cost of enterprises in real economy sectors, according to the report.
In terms of corporate financing, Tianjin is expected to arrange refinancing and re-discounting funds of no less than 10 billion yuan, and set up financing guarantee development funds of 5 billion yuan, said the report.
Meanwhile, Tianjin plans to set up special funds of 10 billion yuan for bringing in high quality private enterprises in key industries, and bail-out funds of 10 billion yuan to provide liquidity for listed and to-be-listed private enterprises, according to the report.
The municipality will offer leading private technology companies and major innovation projects subsidies of 5 million yuan and 3 million yuan respectively, and provide capital support up to 30 million yuan in maximum to enterprises that newly establish headquarters in Tianjin. (Edited by Su Dan, Niu Huizhe)
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