China has released a guideline to accelerate the establishment of a unified domestic market amid efforts to build a high-standard market system and promote high-quality development.
A China-Europe Chang'an freight train carrying the first order of land departure port tax-refunded goods departed from the Xi'an International Port Station on April 18, making Xi'an Port the first inland port in China to pilot the tax rebate policy for land departure ports.
The Ministry of Finance, General Administration of Customs, and State Taxation Administration jointly issued a notice on the pilot tax refund policy for land departure ports.
New guideline promotes tax and fee cuts, financing support for related businesses in China.
Xi'an, capital of Northwest China's Shaanxi province, recently rolled out plans to build the Belt and Road Comprehensive Pilot Zone during the 14th Five-Year Plan period (2021-25).
Northwest China's Shaanxi province recently issued implementation plans for promoting the high-quality development of the manufacturing industry.
The Xi'an municipal bureau of commerce and the Xi'an municipal bureau of finance recently jointly enacted policies to give grants and subsidies to guarantee the supplies of vegetables and other daily necessities during the COVID-19 pandemic prevention and control period.
China will accelerate reforms to encourage fair competition in the market, spur the vitality of smaller companies and offer private business owners greater tax incentives to give back to society, which is crucial for the country to achieve the goal of common prosperity, experts said.