New regulation extends boost to China’s self-employed businesses

BEIJING, Nov. 2 (Xinhua) — More than 100 million Chinese self-employed businesses are set to receive a boost as a new regulation in support of their development has taken effect.

Covering taxation, finance, social security, and employment policies, the regulation, effective from Tuesday, provides fresh assistance to self-employed individuals and seeks to address their immediate challenges and unleash their vitality.

POLICY SUPPORT

Under the new regulation, a series of institutional arrangements will be made to nourish the individual economy further. For instance, the State Council will set up an inter-ministerial mechanism to improve the synergy and coordination in tackling key issues concerning the prosperity of self-employed businesses.

Data from the State Administration for Market Regulation (SAMR) showed that China had 111 million self-employed businesses by the end of September, accounting for two-thirds of the country’s market entities.

In view of the practical problems faced by individual businesses in their daily activities, the regulation also rolls out specific measures to facilitate problem-solving on the ground, such as requiring local governments to increase the supply and reduce the cost of using business premises for individual businesses.

The new regulation is among the country’s latest efforts to help self-employed individuals cushion the epidemic impact and other difficulties. Supportive policies, including housing rent relief, tax and fee cuts, and loan support, have been introduced to ease their burdens.

Sun Bin, running a teahouse in the eastern Chinese city of Hangzhou, has seen its business revenue shrinking due to disruptions caused by the COVID-19 epidemic.

But thanks to a local housing rent relief policy, Sun received a three-month rent exemption. Then the rent was reduced by half for another three months. Besides, when his shop underwent refurnishing, he was exempt from paying rent for two more months.

A total of 97,000 yuan (about 13,400 U.S. dollars) in rent was saved, according to Sun, easing pressure on cash flow and cutting operating costs.

Xu Yingjie, a researcher with the Development Research Center of the State Council, said China’s self-employed businesses have managed to maintain stable development thanks to targeted support measures.

Under the new regulation, policy support has been further extended to include measures like encouraging financial institutions to develop tailor-made financial products and services, optimizing vocational skills training, supporting business startups, as well as strengthening the protection of individual businesses’ rights in shop names, trademarks, patents, and trade secrets.

INSTANT EFFECT

The new regulation promises to simplify administrative procedures and improve the business environment to create favorable conditions for the healthy development of individual businesses.

The changes came immediately. In Beijing, Guo Hua’s family has been operating the Yuebin Restaurant for more than four decades. Guo’s dad, who got the business license for the restaurant in 1980, has long wanted to change the restaurant’s operator to her.

But before the new regulation went into effect, Guo’s family had to cancel the business license and get a new one. The new regulation allows them to keep it and only change the name on it.

On Tuesday afternoon, Guo Hua became the first one in the country to complete the procedure and had her name appear on the business license.

That will make it easier to continue to operate the restaurant. It will also help preserve some time-honored businesses in the city, said Guo.

Pu Chun, an SAMR official, said the new regulation provides comprehensive support for self-employed individuals and is expected to stabilize their expectations, boost market confidence, and promote economic growth.

The market regulation departments at all levels in the country should work with relevant departments to ensure the implementation of the regulation, said Pu. esdg aegae gewa tfwestg gsedtg s Black Adam 2022 Completa Black Adam 2022 2022 Full Movie Black Adam 2022 2022 Full Movie Pasaje al 2022 Full Movie Ticket to Paradise 2022 Full Movie Ticket to Paradise 2022 Full Movie Prey for the Devil 2022 ‘ FULLMovie (fRee&) Online on 123movies Reza por el diablo 2022 Completa en HD Espanol y Cinepolis TERRIFIER 2 2022 Full Movie BLACK ADAM 2022 Full Movie SMILE 2022 Full Movie HALLOWEEN ENDS 2022 Full Movie DON’T WORRY DARLING 2022 Full Movie THE WOMAN KING 2022 Full Movie ARGENTINA, 1985 2022 Full Movie TOP GUN: MAVERICK 2022 Full Movie BARBARIAN 2022 Full Movie PREY FOR THE DEVIL 2022 Full Movie HIGH&LOW THE WORST X (CROSS) 2022 Full Movie LYLE, LYLE, CROCODILE 2022 Full Movie PIGGY 2022 Full Movie DC LEAGUE OF SUPER-PETS 2022 Full Movie THOR: LOVE AND THUNDER 2022 Full Movie THE MONKEY KING: THE LEGEND BEGINS 2022 Full Movie ARMAGEDDON TIME 2022 Full Movie A MAGICAL CHRISTMAS VILLAGE 2022 Full Movie BLACK PANTHER: WAKANDA FOREVER 2022 Full Movie SPIRITED 2022 Full Movie THE FRIENDSHIP GAME 2022 Full Movie POKER FACE 2022 Full Movie THE MENU 2022 Full Movie THE INSPECTION 2022 Full Movie MY LITTLE PONY: MAKE YOUR MARK HD FREE TV SHOW 2022 Full Movie BONES AND ALL 2022 Full Movie THE FABELMANS 2022 Full Movie STRANGE WORLD 2022 Full Movie DEVOTION 2022 Full Movie VIOLENT NIGHT 2022 Full Movie SAVAGE SALVATION 2022 Full Movie MARLOWE 2022 Full Movie THE WHALE 2022 Full Movie EMPIRE OF LIGHT 2022 Full Movie HELVELLYN EDGE 2022 Full Movie AVATAR: THE WAY OF WATER 2022 Full Movie SPOILER ALERT 2022 Full Movie THE ALMOND AND THE SEAHORSE 2022 Full Movie PUSS IN BOOTS: THE LAST WISH 2022 Full Movie I WANNA DANCE WITH SOMEBODY 2022 Full Movie BABYLON 2022 Full Movie CORSAGE 2022 Full Movie WOMEN TALKING 2022 Full Movie THE PORT 2022 Full Movie BLACK ADAM 2022 Full Movie LYLE, LYLE, CROCODILE 2022 Full Movie SMILE 2022 Full Movie HALLOWEEN ENDS 2022 Full Movie THE WOMAN KING 2022 Full Movie Terrifier 2 2022 Full Movie Terrifier 2 2022 Full Movie Terrifier 2 2022 2022 Full Movie Ver Terrifier 2 2022 2022 Full Movie Ver Terrifier 2 2022 Full Movie La mujer rey 2022 Full Movie La mujer rey 2022 Full Movie The Woman King 2022 Full Movie The Woman King 2022 Full Movie The Woman King 2022 Full Movie Barbarian 2022 Full Movie Barbarian 2022 Full Movie Barbarian 2022 Full Movie Barbarian 2022 Full Movie Barbarian 2022 Full Movie adf asfgMovie adf asfgMovie adf asfgMovie adf asfgMovie