China pushes a number of financial policies to support epidemic prevention

At the executive meeting of the State Council held on January 5, it was determined that, on the basis of various measures for epidemic prevention and control in the early stage, another batch of fiscal, tax and financial policies supporting guaranteed supply would be put into effect temporarily from January 1. Four fiscal and tax policies were made clear at the meeting: -- pre tax one-time deduction is allowed for the purchase of equipment for expanding production capacity of key material production enterprises for prevention and control, and the VAT incremental tax allowance during this period is refunded in full; -- VAT is exempted for the transportation of key materials for prevention and control and the provision of public transport, life services, and postal and express delivery income; -- registration fee is exempted for relevant anti epidemic drugs and medical devices, Increase support for research and development of drugs and vaccines; -- exempt from the civil aviation development fund paid by civil aviation enterprises. The meeting decided to make good use of the special re loan policy, support the bank to provide preferential interest rate loans to key enterprises including small and micro enterprises that produce, transport and sell key medical control materials and necessities, and the finance will give another half of the discount interest to ensure that the enterprise loan interest rate is less than 1.6%. Liu Shangxi, President of the Chinese Academy of financial Sciences, said the current epidemic prevention and control is at a critical stage. This time, another batch of fiscal and tax financial policies will be launched to focus on the production enterprises of epidemic prevention products, relevant transportation and logistics enterprises, pharmaceutical enterprises, etc., which will help to further reduce the production and operation costs and financing costs of relevant enterprises, promote the supply of epidemic prevention materials and pharmaceutical products, and provide better guarantee for the decisive victory of epidemic prevention and control.