The 127Th Canton Fair Was Held Online In Mid And Late 6.

Li Keqiang, premier of the State Council, chaired a State Council executive meeting on April 7th. He launched a series of initiatives such as the establishment of a comprehensive pilot area for cross border e-commerce, support for processing trade, and online holding of the Canton Fair. He actively responded to the impact of the epidemic and worked hard to stabilize the basic foreign trade and foreign investment. He decided to extend some of the tax support policies of Shi Puhui financial and small loan companies.

The meeting pointed out that the current global pandemic has a huge impact on the world economy and international trade and investment. We should follow the Party Central Committee and the State Council to carry out the work of "six stability", persist in opening wider to the outside world, and adopt a series of measures to stabilize foreign trade and stabilize foreign investment, so as to alleviate the serious impact of China's economy.

At present, the traditional foreign trade has been greatly affected by the epidemic. In order to give full play to the advantages of cross-border electricity providers and help the foreign trade overcome by the new format, the conference decided to add 46 cross-border electricity supplier comprehensive test zones. Promoting effective measures to promote the development of cross-border electricity providers, the implementation of the comprehensive test area cross-border e-commerce retail export goods exemption from value-added tax and consumption tax, enterprise income tax approved collection and other supporting policies, study the conditions of the comprehensive test area in the city into the cross-border electricity supplier retail import pilot area.

The conference called for coordinated development of domestic and foreign trade to support processing trade enterprises. For processing trade bonded materials or finished products, domestic sales will be exempted from tax payment until the end of the year. The pilot enterprises of processing trade enterprises may choose to pay taxes according to imported materials or finished products, and extend them to all comprehensive bonded zones. We will expand the scope of foreign investment industries.

In view of the grim situation of the global epidemic, the meeting decided that the 127th Canton Fair will be held online in mid and late 6. We invite customers from home and abroad to display products online, use advanced information technology, provide all-weather online promotion, production and docking, online negotiation and other services, and create online trade platform for high-quality and special products, allowing Chinese and foreign merchants to place orders and do business without leaving home.

The meeting pointed out that we should enhance the capacity of China Europe class trains and other freight corridors, fully undertake the transfer of cargo by shipping and air transport, and support the stabilization of the international supply chain and resumption of production.

In order to strengthen inclusive financial services, the meeting decided to implement linkage between fiscal and financial policies and extend some of the tax preferential policies that had already expired to the end of 2023. It includes: interest income from loans issued by financial institutions to small and micro enterprises, individual industrial and commercial households and peasant households is exempt from value added tax; interest income for loans to farmers and loans for 100 thousand yuan and below; premium income for insurance business of seed aquaculture industry is accounted for by 90% of taxable income; the interest income for farmers who are 100 thousand yuan or below of small loan companies is exempt from interest income. The value tax shall be included in the taxable income of enterprise income tax according to 90%, and the loan loss reserve shall be deducted according to the loan balance of 1% at the end of the year, and the income tax shall be deducted before tax.