Huangpu receives $159m to benefit enterprises and people

An aerial view of Guangzhou Science City.

According to the Huangpu district finance bureau, Huangpu received 1.1 billion yuan ($159 million) in direct funds from the central government from January to July to support tax cuts and fee reductions, key livelihood projects, as well as special transfer payments. As of the end of July, Huangpu has used 990 million yuan, accounting 93.4 percent of the direct funds, benefiting 827 market entities and 11,820 people.

Huangpu allocated 108 million yuan in subsidy funds to strengthen basic medical security for people's livelihoods, assistance subsidies for the poor, and basic education subsidies. It implemented the employment priority policy, with 38 million yuan in employment subsidy funds spent to promote employment and entrepreneurship.

The district fully supports tax cuts and fee reductions. From January to July, it processed 13.6 billion yuan in value-added tax refunds, with the scale of tax refunds about 10 times larger year-on-year. It released policy dividends to support large and medium-sized enterprises, small and micro enterprises, as well as individual industrial and commercial households to help them overcome difficulties.

The Huangpu district finance bureau used 844 million yuan in special transfer payment funds to supporting enterprise innovation, promoting industrial upgrading, protecting intellectual property rights, bolstering ecological environment management, as well as supporting other key livelihood fields.

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