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Preferential tax policies promote enterprises' innovative development
Updated: 2021-03-01    Source: Zhongshan Daily Large Medium Small Print

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At the beginning of the Year of the Ox, workers of Zhongshan Vanward Electric Appliance Co Ltd in Dongfeng Town kept busy in the workshop. To help effectively prevent and control the epidemic, Zhongshan Vanward actively organized transportation for employees to return to work, and strove to step up production, expand their markets, and recruit new talent.

Zhongshan Vanward is a wholly-owned subsidiary of Guangdong Vanward New Electric Co Ltd, earning more than 95% of its value from exports. It mainly produces outdoor barbecuing equipment, camping stoves, gas ovens, and other products for suppliers in the international market. These products are exported to Europe, America, and other countries.

Xing Weimin, assistant general manager of the Kitchen Appliance Division of Zhongshan Vanward, said that since the outbreak of the epidemic, their products such as gas ovens have been favored by foreign customers, and export orders for electric appliances have enjoyed sustained growth.

In 2020, Zhongshan Vanward's sales totaled 439.6293 million yuan, up 29.80% year on year, of which the export goods sales totaled 393.9126 million yuan, up 20.60%.

In 2020, benefiting from the policies such as rapid approval and refund of export rebates and phased social security reduction and exemption, Zhongshan Vanward's export rebates reached 28.2121 million yuan, up 30.61%. It also enjoyed a phased social security reduction and exemption totaling 2.34 million yuan.

Thanks to the tax and administrative fee reduction, Zhongshan Vanward is able to invest more funds to comprehensively improve production automation and further develop smart technology this year.

"In the second half of 2021, we will finish upgrading 5 assembly lines to increase production efficiency by 20%-30%. This year, our goal is to achieve an output value increase of about 20%," said Xing Weimin.

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