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China Daily

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Published: 21:38, October 27, 2021
China to defer tax payment for manufacturing SMEs
By Xinhua
Published:21:38, October 27, 2021 By Xinhua

This undated photo captures a worker checking the operation of a carbon fiber production line at a factory in Lianyungang, Jiangsu province. (GENG YUHE / FOR CHINA DAILY)

BEIJING – China will defer tax payment for small and medium-sized enterprises (SMEs) in the manufacturing sector to ease the impact of rising costs, a State Council executive meeting decided on Wednesday. 

READ MORE: Supportive measures are urgently needed to help SMEs out of crisis 

The decision would in effect defer around 200 billion yuan (US$31.32 billion) of tax payment for manufacturing SMEs, the meeting said. 

ALSO READ: Large banks helping small firms access loans 

The meeting also decided to defer tax payment of around 17 billion yuan for coal-fired power companies and heating firms to ease their operating difficulties. 

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