-- Lowering import tariffs for some products

China\r\n implemented provisional import tax rates that are lower than the \r\nmost-favored-nation tariff rates for over 850 commodities starting Jan \r\n1, according to a circular on the adjustments of import tariffs issued \r\nby the Customs Tariff Commission of the State Council.

Under the \r\ncircular, China introduces or reduces the provisional import tax rates \r\non products including frozen pork, frozen avocados and nonfrozen orange \r\njuice, as well as imposes zero import tax on pharmaceutical products \r\ncontaining alkaloids for asthma treatment and raw materials for the \r\nproduction of new diabetes medicines.

-- Raising duty-free shopping quota

Starting\r\n July 1, Hainan has increased its annual tax-free shopping quota from \r\n30,000 yuan ($4,584) to 100,000 yuan per person each year.

The \r\ncategories of duty-free goods have also been expanded from 38 to 45, \r\nwith some electronic products such as mobile phones and laptops added to\r\n the duty-free list.

The previous tax-free limit of 8,000 yuan for\r\n a single product has been lifted, and the number of categories with a \r\nsingle-purchase quantity limit has been significantly reduced.

-- Deferring income tax payment

China\r\n will defer income tax payments for small companies with thin profit \r\nmargins, as well as individually owned businesses, to help them resume \r\nbusiness and production, said the State Taxation Administration.

Small\r\n companies with thin profit margins are allowed to suspend payments of \r\ncorporate income tax from May 1 to Dec 31 this year until the first \r\nfiling period in 2021, once they complete required filing procedures, \r\naccording to a statement published on May 29.

Individual business \r\nowners can delay payments of individual income tax incurred in the same \r\nperiod until the first filing period next year, the statement said.

-- Efforts to stabilize employment

Chinese\r\n authorities on July 16 released a circular aimed at supporting small \r\nstores as part of efforts to increase employment, expand consumption and\r\n improve people's livelihoods.

The circular, jointly issued by the\r\n Ministry of Commerce and six other government departments, detailed \r\nmeasures to develop 1,000 clusters of small stores nationwide by 2025.

E-commerce\r\n platforms, logistics firms, trading enterprises and central kitchens \r\nare encouraged to cooperate with small stores to reduce their costs, \r\naccording to the circular.

-- Easing rental burdens for small businesses

On\r\n May 9, China announced rental reductions or exemptions for small and \r\nself-employed businesses in the service sector, which were reeling from \r\nweak consumer spending during the COVID-19 pandemic.

The rent \r\nrelief aims to support hard-hit micro and small companies and \r\nself-employed businesses, especially in the sectors of catering, \r\naccommodation, tourism, education, housekeeping, theater and \r\nhairdressing.

-- Spurring auto consumption

Chinese\r\n authorities unveiled a slew of measures to stabilize and expand car \r\nconsumption, amid efforts to ensure the stable and normal operation of \r\nthe economy, said an official circular on April 29.

Financial \r\ninstitutions will be encouraged to conduct financial business including \r\nauto consumption credits, said the circular, stressing good use of \r\nconsumer auto financing.

More efforts will be made to increase \r\nsupport for personal auto consumption credits and further release the \r\nauto consumption potential by appropriately lowering the down payment \r\nratio and loan interest rate as well as extending the repayment period, \r\nthe circular noted.

-- 97 drugs of new medical insurance catalog available for purchase

A\r\n total of 97 drugs, including 70 new additions and 27 renewed drugs, \r\nwere approved to be included in China's new national medical insurance \r\ncatalog after price negotiations between the healthcare security \r\nadministration and drug producers.

-- More support for NEV industry

On\r\n April 23, China announced it will extend tax exemptions on new-energy \r\nvehicle (NEV) purchases by an additional two years to better promote the\r\n sector's development and boost car sales.

The tax exemptions, \r\nwhich were set to expire at the end of this year, will continue from Jan\r\n 1, 2021 until Dec 31, 2022, for electric, plug-in hybrid and fuel \r\ncell-powered vehicles, according to a statement jointly issued by the \r\nMinistry of Finance, State Taxation Administration and Ministry of \r\nIndustry and Information Technology.

Meanwhile, value-added taxes \r\non the sale of old vehicles by second-hand vehicle dealers will be \r\ndecreased to 0.5 percent of the sales volume from May 1 to the end of \r\n2023.

-- Tax relief policies

A State \r\nCouncil executive meeting on Feb 25 decided to exempt value-added taxes \r\nfor small-scale taxpayers in Hubei province, which was hit hard by the \r\nnovel coronavirus earlier this year, and cut taxes from 3 percent to 1 \r\npercent for those outside Hubei from March 1 to May 31.

Individual\r\n businesses will also see a cut in their insurance contributions. \r\nIndustrial and commercial companies not from high energy-consuming \r\nindustries enjoy a 5-percent cut in electrical charges.

-- Stabilizing foreign trade, investment

In\r\n April, the State Council decided to set up 46 new, comprehensive \r\ncross-border e-commerce pilot zones, bringing the total number to 105.

In\r\n addition to applying the practices proven effective in boosting the \r\nflow of commerce, firms in these zones enjoy such supportive policies as\r\n the exemption of value-added and consumption taxes on retail exports, \r\nand assessed levies of the corporate income tax.