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        Business News
        In recent years, sci-tech innovation achievements have emerged in Guangzhou one after another, contributing to the high-quality development of strategic emerging industries. The Guangzhou Lab has been established; national large-scale scientific devices such as human cell lineage and cold seep ecosystem have been put into use; the added value of strategic emerging industries accounts for over 30% of the reg...
        On the afternoon of February 20, local time, a delegation from Guangzhou arrived in Frankfurt, Germany, for a series of investment promotion activities. Cooperation agreements in areas such as intelligent connected vehicles, biotechnology, artificial intelligence, cultural tourism, and finance were signed at the event.
        Guangdong heads the cosmetics industry by various measures.Number of cosmetics manufacturing companies in Guangzhou far exceeds those of other top-tier cities on the mainland.
        Policies
        • To fully implement decisions and arrangements of the Communist Party of China (CPC) Central Committee and the State Council, reduce institutional costs, and boost the confidence and growth of market entities, Guangzhou Municipal Tax Service has formulated the Measures of Guangzhou Municipal Tax Service, State Taxation Administration for Taxpayer Facilitation and Business Environment Improvement in 2022 for tax and fee payers.
        • As determined by the people’s government of any province, autonomous region, or municipality directly under the Central Government in light of the realities of the local region and in accordance with macroeconomic regulation needs, the resource tax, urban maintenance and construction tax, property tax, urban land use tax, stamp tax (excluding stamp tax for securities trading), farmland occupation tax, educational surtax, and local education surcharges of small-scale VAT taxpayers, small low-profit enterprises and individual industrial and commercial households may be subject to a reduction of up to 50% of the tax payable.
        • In order to implement the decision and deployment of the CPC Central Committee and the State Council, effectively protect the basic livelihood of the people, and help enterprises to overcome difficulties, upon the consent of the People s Government of Guangdong Province, the Notice of the National Healthcare Security Administration, National Development and Reform Commission, Ministry of Finance, and State Taxation Administration on the Temporary Deferred Payment of Corporate Contributions to Basic Medical Insurance for Employees (YBF [2022] No. 21) is hereby forwarded to you. In line with the actual situation in our province, the following work requirements are proposed for implementation.
        • Policies regarding period-end VAT credit refund for small and micro enterprises shall be stepped up by expanding the scope of the policy regarding monthly full period-end VAT credit refund in advanced manufacturing industries to cover eligible small and micro enterprises (including privately or individually-owned businesses, the same below), and refunding the existing VAT credit of small and micro enterprises in a lump sum.
        • In accordance with the Notice of the Ministry of Human Resources and Social Security, the Ministry of Finance and the State Taxation Administration on Utilizing the Unemployment Insurance to Stabilise Employment,Improve Vocational Skills and Prevent Unemployment (RSBF [2022] No. 23, hereinafter referred to as Document 23), upon the consent of the People’s Government of Guangdong Province, it is hereby announced relevant matters as follows.
        • In order to implement the deployment of the CPC Central Committee, the State Council and the CPC Guangdong Provincial Committee and the People’s Government of Guangdong Province on the package of policies and measures to stabilise the economy, and to focus on the protection of the market entities and the guarantee for employment and people’s livelihood, it is hereby announced the following specific matters on the implementation of the relevant policies stipulated in the Notice of the Ministry of Human Resources and Social Security, the National Development and Reform Commission, the Ministry of Finance, and the State Taxation Administration on Expanding the Scope of Implementation of the Policy of Phased Deferred Payment of Social Insurance Premiums and Other Issues (RSBF [2022] No.31) in...
        Policies Interpretation

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