No.1[2019] of the General Office of Chongqing Municipal People’s Government

1.Chongqing Municipal government will set up the first bailout fund for private enterprises with the amount of no less than 10 billion RMB. The fund is used primarily to support private enterprises such as enterprises leading the industries, "double hundred enterprises", enterprises that provide relatively more employment positions, and enterprises in emerging industries of strategic importance, etc.

2.The integration of policy-based financing guarantee agencies at the municipal level will be promoted. The financing guarantee agencies in collaboration with the national financing guarantee fund, should support the financing of micro&small enterprises by providing a guarantee of no less than 80% of the total amount. Those agencies will also share 20% of the consequent compensatory losses.

3.The amount of Chongqing Municipal on-lending emergency turnover fund for medium-size and micro & small enterprises will be raised up to 2 billion RMB. The fund will be available for 15 working days, and the amount available for single use will be raised up to 80 million RMB each time. The concerned banks should not downgrade the credit rating or lower the credit limit of the private enterprises because of their using the fund.

4.The creditor’s committees will be set up in the private enterprises which have financing in more than 3 banking institutions with the balance of financing more than 100 million RMB. The pilot scope of “joint credit-granting for private enterprises” will be expanded, and their credit-granting limit will be reasonably identified.

5.Banking financial institutions in Chongqing administrative region will be promoted to take the lead in achieving the "125" private enterprises’ loan target (concrete explanation: loans of large banks to private enterprises will be no less than 1/3 among the new corporate loans, and loans of medium-sized and small banks will be no less than 2/3. Three years later, the proportion of loans of the banking industry to private enterprises will be no less than 50% of the new corporate loans) set by the national government. The proportion of the banking industry loans to private enterprises will be strived to catch up no less than 50% of the new corporate loans 3 years later. The incremental Loans for micro & small enterprises will be strived to increase to RMB 100 billion in 3 years.

6.The tolerance of non-performing loan rate will be promoted. Performance ranks of local legal person banks, whose non-performing loan rate for micro & small enterprises is exceeded within 2% than their other non-performing loan rates, will be reasonably assessed and the due-diligence liability exemption system will be fully implemented.

7.The landing of national bond financing supporting tools for private enterprises’ will be actively campaigned in Chongqing. Private enterprises are encouraged to apply for low-cost loans from the Supporting Small-Sized Banks’ Relending Funds of the People’s Bank of China to local legal person financial institutions. Private enterprises are supported to discount negotiable instruments through the "green windows" for negotiable instrument discounting set by financial institutions.

8.More private enterprises are encouraged to be public listed in domestic and overseas exchanges for financing, a tax subsidy of no less than 6 million RMB will be issued for every key pre-IPO enterprise’s restructuring, a reward of 2 million RMB will be granted for every successfully listed enterprise. The annual scale of newly increased equity investment will be strived to get to more than 10 billion RMB. The construction of Chongqing Share Transfer Center will be accelerated to make it become an important capital market serving the equity financing of private enterprises in Chongqing.

9.The “government-banks-enterprises” docking mechanism will be normalized and improved. A big data platform, a credit system integrates market supervision, tax, social insurance, real estate, water, power and gas supply and other relevant information will be established. The pilot reform of knowledge-valued credit loans for sci-tech enterprises will be extended to all districts and counties. Discount interest of commercial value credit loans shall be granted to medium-sized and micro & small enterprises applying for credit loans of commercial value.

10.To support the transformation and upgrading of private enterprises, the mortgage loan products compatible with the assets and operating traits of private enterprises will be developed. The mortgage loan modes of private enterprises' lease and use right of industrial lands, business house use right, and the ownership of facilities and equipment will be innovated.

11.The social insurance premiums reducing policy will be implemented strictly. If enterprises did have special difficulties and cannot pay taxes on time, it may apply in accordance with the relevant provisions of the tax law and postpone payment after approval, with a maximum extension of no more than 3 months. If enterprises encountered difficulties in production and operation due to objective factors, it may apply to the financial department for a deduction or exemption no more than 1 year or a postponed payment no more than 6 months of the employment security fund for the disabled.

12.Insured enterprises with no or few layoffs can regain 50% of their unemployment premiums actually paid last year.

13.National policies including extending the period of reducing the deposits ratio of the corporate provident fund for housing by stage will be implemented. Enterprises are allowed to independently determine the deposit ratio of contributions within the specified range of 5% -12% according to their own operating conditions. Enterprises having not yet to establish a trade union will be free of the establishment reserve fund for the first 3 years.

14.The electricity price for key industrial enterprises with promising products shall be reduced to about 0.6 yuan/kWh. The charges for the power grid and the indirect power supply shall be reviewed and regulated. “One enterprise, one policy” will be implemented for electricity power diagnosis. The natural gas price for peak-shaving shall not be allowed to exceed 20% of the gate price.

15.The catalogue list system for port charges will be fully implemented, whereby unlisted services shall not be charged for. To get through the "last kilometer" and reduce enterprises’ logistics costs, the international logistics corridors and multi-modal transportation will be improved.

16.Within the scope of industrial parks approved by the national or municipal government, the manufacturing projects belonging to intelligent industries or strategic emerging industries with land intensive use, the standard workshop projects, building industrial parks projects and entrepreneurial bases for small enterprises from various districts and counties that are proceeding by land use rights obtained through parks’ state-owned platform companies, the base price of land transfer can be implemented at 70% of the standard floor industrial land price according to their domicile land grades.

17.The time limit of enterprise registration, seal engraving and application for invoices, etc., will be reduced to within 3 working days; and the permission for enterprises’ opening bank accounts will be completely canceled before the end of 2019. The “confirmations-temporarily-replace-licenses” model will be gradually explored. Fifteen items needing approval including the preliminary design approval, the technical review of fire protection and the acceptance of soil and water conservation facilities will be canceled in social investment construction projects. The notification commitment mechanism will be citywide implemented over 21 items needing approval including the pre-examination of land for construction projects, permissions for the planning of construction projects and permissions for the implementation of construction projects.

18.Entrepreneurs’ personal and property safety will be legally protected, and acts infringing legitimate rights and interests of private enterprises will be strictly clamped down. The precaution mechanism against major crisis as well as the emergency mediation mechanism against major disputes will be established. The intensity of information disclosure of enterprises’ burden reducing, meeting enterprises and people’s convenience, rewarding and subsidizing policies, tendering and bidding and administrative enforcement will be strengthened to foster the business environment ruled of law.