2020-06-29
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| Major Document | Ÿ Guidelines on Deepening Reform of SOEs |
| Supplementary Documents | Ÿ Guidelines on Developing Mixed-Ownership in SOEs Ÿ Guidelines on Reforming and Improving the State-Owned Asset Management System Ÿ Guidelines on Reforming the Salary-Setting Mechanism for SOEs Ÿ Guidelines on Promoting Pilot Reforms in State Capital Investment and Management Companies Ÿ Regulations on the Management of Executives in Central Government Enterprises Ÿ Guidelines on Strengthening and Improving Oversight of SOEs’ State-Owned Assets to Prevent Their Loss Ÿ Implementation Guidelines on the Reform to Introduce Corporate Systems in Central Government Enterprises |
3) The private sector received stronger support.
We strengthened the protection of property rights and intellectual property rights (IPR). We set up a robust mechanism to ensure coordinated property rights protection, conducted a review of all regulations and normative documents relating to property rights protection, and carried out extensive campaigns to address failures within government institutions to act in good faith in this area. The Plan for the Internet Plus IPR Protection was unveiled. In line with our efforts to promote entrepreneurship, we repealed the Provisional Regulations for Private Enterprises. We worked to improve the transmission mechanism of monetary policy, and encouraged financial institutions to provide more credit to the real economy and to manufacturing firms, private enterprises, and small and micro businesses in particular. We set up instruments to support private enterprises in debt financing and help them find market-based solutions to financing problems.
4) The reform of the fiscal, tax, and financial systems registered steady progress.
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We continued reforms to divide fiscal powers and expenditure responsibilities between central and local governments on a sector by sector basis, and made consistent improvements to performance-based budgetary management. In the area of tax, further progress was made in VAT reform. We revised the Law on Individual Income Tax and its implementation regulations, raised the income tax threshold, introduced six special deductible items, and improved the structure of tax rates. The environmental protection tax came into force.
We published policies on improving regulation of systemically important financial institutions, on strengthening oversight over nonfinancial firms’ investment in financial institutions, and on improving the management of state-owned financial capital. The orderly development of private banks was promoted, with approval being granted for the establishment of 17 private banks.
