China offers perks to boost lending to small firms
Beijing
CHINA will exempt banks' interest income from loans to small firms and rural households from value-added tax, authorities said on Monday, in the latest step to address a long-standing issue of lack of financing to small firms.
The policy will be in effect from Dec 1, 2017, to the end of 2019, the finance ministry and tax administration said, while contracts for loans with small firms will also be free of stamp taxes from 2018 to 2020.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
UBS weighs synthetic risk transfer amid capital boost proposals
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge