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chinadaily.com.cn 2021-12-29 15:42


>China will scale up tax and fee cuts

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. [Photo/Xinhua]

China will scale up tax and fee cuts next year after reducing an estimated 1 trillion yuan worth of taxes and fees in 2021, the Ministry of Finance said.

"We will implement tax and fee cuts at a greater intensity to vitalize market players," the ministry said in a statement on Monday, after concluding a meeting that mapped out priorities for fiscal authorities in 2022.

The ministry will step up policy support for hard-hit smaller businesses, grant rewards to demonstration areas utilizing inclusive finance, and support a new array of "little giants", or leading small and medium enterprises that specialize in niche sectors, according to the statement.

Efforts will also be strengthened to make good use of local government special bonds, support in-advance infrastructure investments, and improve the structure of income distribution, the statement said.


>China shortens negative lists for foreign investment

Aerial photo taken on May 26, 2021 shows the Yangpu international container port at Yangpu economic development zone in South China's Hainan province. [Photo/Xinhua]

China on Monday unveiled two shortened negative lists for foreign investment, as part of efforts to further open up the economy and promote high-quality economic development. The two new negative lists will take effect on Jan 1, 2022.

This marks the fifth consecutive year that China revised its national negative list and pilot free trade zone (FTZ) negative list.

The number of items that are off-limits for foreign investors will be cut to 31 in the 2021 version of the national negative list, from 33 in the 2020 version, according to a statement jointly released by the National Development and Reform Commission and the Ministry of Commerce. The number of items on the pilot FTZ negative list will be reduced from 30 to 27.

According to the new lists, foreign ownership caps on passenger car manufacturing companies will be removed. All manufacturing sectors will be open to foreign investors in pilot FTZs. Foreign investors' access to the service sector in pilot FTZs will also be widened.

Foreign investment will be allowed in the social survey industry, but ownership by foreign investors should be no more than 33% and the legal representatives should have Chinese nationality.


>China's red tourism gathers steam

Red tourism stood out as a popular choice during this year's three-day Dragon Boat Festival holiday.[Photo/Xinhua]

Red tourism became an increasingly popular choice for travelers in 2021, data from a recent report showed. The number of searches for "red tourism" on Mafengwo, a Chinese travel service and social-networking platform, increased by 176 percent this year from a year earlier, according to the report jointly published by Mafengwo and China Tourism Academy.

Red tourist destinations in North China's Beijing-Tianjin-Hebei region have grown in popularity at the quickest rate nationwide, with the number of searches surging 240 percent year on year.

Some 41.7 percent of respondents to a survey in the report said they visited red tourist sites more than three times this year, and over 40 percent of them went to such places "frequently" and "voluntarily" for sightseeing and education.

Red-themed homestay and live shows were the favorite activities of tourists in 2021, with each accounting for nearly 20 percent of all activities in red tourism, according to the report.


>23rd China Hi-Tech Fair kicks off

STOR-H is to participate in the online exhibition of the 23rd CHTF. [Photo/WeChat account: szchtf]

The 23rd China Hi-Tech Fair (CHTF) kicked off both online and offline on Monday in Shenzhen.

The on-site exhibitions cover a total area of 157,000 square meters, and more than 1,900 enterprises at home and abroad are participating in the online exhibition.

Well-known enterprises, colleges and universities, and organizations like Huawei, ZTE, Shenzhen Salubris Pharmaceuticals, Peking University, and Tsinghua University are showcased at this year's fair.

A total of 39 countries, including France, Germany, Russia and Argentina are participating either online or on-site, showcasing the latest achievements in the fields of new-generation information technology, high-end manufacturing, smart cities, new energy, and new materials.


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