Guizhou's market entities exceed 4m in H1

With the implementation of an action plan for market entity cultivation in Southwest China's Guizhou province, market access is now more convenient, the business environment is better, and market entities have been vitalized.

Statistics show that Guizhou is currently home to more than 4 million market entities, with a total registered capital of more than 10 trillion yuan ($1.49 trillion).

The action plan focuses on finance, taxation, land usage, energy, talent and business environment, and includes various policies to cut taxes and administrative fees so as to ease operational pressure on companies.

It has taken seven measures to cultivate and expand the scales of major companies, micro, small and medium-sized companies, and individually-owned businesses.

For individually-owned businesses that are planning to transform into companies, Guizhou's market supervision departments will provide transformation training and preferential policies to help them establish modern company systems.

This year, Guizhou will enhance financial support and arrange 9.73 billion yuan in direct subsidies, rewards, and loans with discounted interest for market entities.

It will invest 30 billion yuan in industrial development and environmental protection funds, and establish a fund of 10 billion yuan to support the development of new energy batteries, new materials, and Maotai-flavored baijiu.

To cultivate industrial companies above a designated size, Guizhou's industry and information technology department will continue to focus on company cultivation, project construction and business support services.

Guizhou's taxation departments will also help cultivate listed companies, promote the cultivation of companies above a designated size, promote the development of small and medium-sized companies, support the steady development of micro companies, encourage the commercialization of sci-tech achievements, and expand the scale of foreign trade.