- MEDIA CENTER
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.
The Guizhou industry and information technology department recently released a development plan for small and middle-sized companies, or SMEs, during the 14th Five-Year Plan (2021-25) period.
New plans are for Southwest China's Guizhou province to extend it supply-side structural reform and innovation of systems and institutional mechanisms – making the services industry a booster to overall economic growth.
Southwest China's Guizhou province recently released an implementation blueprint for developing more major industrial enterprises in the region from 2021 to 2025.
In 2021, China is ramping up efforts to cut taxes and support the real economy. Preferential policies released in the first half will be extended to the end of the year.
In recent years, Southwest China's Guizhou province has adhered to a strategy of enhancing the province's high-quality development through intellectual property (IP) protection and application.