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Xinhua Silk Road
Policy

N.China Hebei continues to strengthen business environment

July 21, 2020


Abstract : The local authority in north China's Hebei Province has been stepping up efforts to optimize the business environment since the year begins, reported Hebei Daily Monday.

BEIJING, July 21 (Xinhua) – The local authority in north China's Hebei Province has been stepping up efforts to optimize the business environment since the year begin, reported Hebei Daily Monday. 

Detailed measures in strengthening the business environment were taken in certain aspects to reduce the tax burden, standardize government procurement procedure, entrepreneurial guaranteed loans, standardize the operation of PPP projects, and facilitate supervision. 

In terms of relieving the tax burden on enterprises, relevant policies on tax and fee reduction have been issued accordingly by the local authority in May this year. At the same time, it also implements the supervision and inspection of tax reduction in various parts of the province. 

Hebei expects to realize the disclosure of government procurement intentions to all provincial buyers in 2022 to enhance government procurement transparency in the province. 

In the meantime, 30 percent of the total budget of government procurement projects should be reserved for more than 60 percent of small and micro enterprises in Hebei, while the online government procurement system should also be accelerated. 

The province has been promoting the standardized operation of the Public-Private-Partnership (PPP) project. By the end of June 2020, a total of 415 PPP projects valuing 670.8 billion yuan in Hebei had been audited by the Ministry of Finance and incorporated into the PPP comprehensive information platform. 

While promoting the implementation of PPP projects, Hebei also encourages various enterprises to participate in PPP projects according to the same standards and treatment. As of the end of June, 169 private enterprises participated in PPP projects in the province, with an investment worth some 303.2 billion yuan. 

As for supporting the resumption of work and entrepreneurship, Hebei has introduced measures to discount interest on start-up guaranteed loans, including expanding the scope of loans, lowering the loan standards for small and micro companies, and increasing the number of credits for individuals and partnerships. 

In 2020, Hebei issued 71.14 million yuan of discount funds for entrepreneurial guaranteed loans in advanced and extended 828 million yuan of entrepreneurial guaranteed loans for the province. 

In addition, the province is also committed to strengthen supervision over accounting firms, asset evaluation agencies and government procurement social agencies, to further standardize the market regulatory system.

(Edited by Jiang Feifan with Xinhua Silk Road, 346129473@qq.com) 

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Keyword: Hebei business environment

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