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15 July 2015

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Poverty Alleviation Policies Issued in Hunan

2017-07-28 Download Print

The CPC Hunan Provincial Committee and the People's Government of Hunan Province general offices recently issued the “Policies on supporting industrial development and employment expansion in poverty-stricken area” (hereinafter called “the Policies”).


Ten major supportive policies are highlighted in the document; namely, to ease market access, provide fiscal and tax support, reduce business costs, strengthen financial support, encourage entrepreneurship and employment, lower labor costs, enhance housing security, promote brand building, introduce powerful enterprises, and identify implementation scope.

As for the fiscal and taxation, favorable taxation policies will be implemented to comprehensively support the real economy, micro and small enterprise expansion, scientific and technological innovation, and entrepreneurship and employment.

Financially, the Policies say that the government will assist companies in poverty-stricken areas in going for initial public offerings (IPO). Those applicants having submitted their IPO applications to the China Securities Regulatory Commission for approval, should be rewarded appropriately.

Meanwhile, the leading industry and agricultural industrialization enterprises that boost the development of poverty-hit areas and have high employment capacity should be introduced. Those listed in the “FORTUNE Global 500”, “Top 500 Chinese Enterprises”, and “Top 500 Chinese Private Enterprises” should be specially supported from such aspects as finance and land.

The Policies implementation scope covers 51 national and provincial poor counties. Those former poverty-stricken counties can still enjoy the policy benefits. The Policies are valid till December 31, 2020.

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Translator: Yu Jiangjiang

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