In recent years Zhongshan keeps relieving economic burden imposed on private enterprises by implementing tax relief policies.

Statistics of Zhongshan Taxation Bureau show that tax reductions for 2016 and 2017 were both 8.248bn yuan. The figure for the first ten months of this year amounted to 10.4bn yuan, increased by 2.96bn yuan from the same period of last year. Specifically, tax reduction for supporting financial and capital markets was 2.496bn yuan, for high-tech development was 1.672bn yuan, and for development of SMEs was 1.488bn yuan.

Since the beginning of the year, Zhongshan Taxation Bureau has carried out “banking-taxation interaction” program. With the “banking-taxation interaction platform”, banks are authorized to inquire loan applicants’ credit information. It can help SMEs reduce credit cost and improve loan application efficiency.

The bureau has also launched “banking-taxation interaction” service for natural persons, which benefited over 2 million natural person taxpayers.

By the end of October this year, “banking-taxation interaction” program has accumulatively issued 3.729bn yuan of loans to 3,245 enterprises and provided 348mn yuan of loans to 2,613 natural persons.