Policy Digest

Government tasks for 2018 disclosed

Further details on governmental work will be released to the public in 2018 in response to public concern, to improve government services, construct information publicizing platforms and standardize information access, according to a State Council statement on April 24. Regulations and policies, unless legally subject to confidentiality, should be open to the public, to further facilitate law-based administration and protect people's right-to-know, the statement said. Some key sectors will be granted more autonomy in information disclosure, such as fiscal budgets and final accounts, approval and implementation of key projects and the distribution of public resources and assets.

Policies on market expectations will be mapped out in further detail, highlighting interpretation of policies regarding precaution against major risks, targeted poverty alleviation and pollution prevention.

The statement also called for enhanced efforts for more active and effective reaction to public opinion in areas of major public concern. It also called for further improving online governmental services, with an increasing number of service items available on the internet, bringing more convenience to the public.

Further tax cuts to boost SME growth

The State Council's executive meeting on April 25, chaired by Premier Li Keqiang, decided to roll out seven more measures to boost tax cuts, aiming to relieve over 60 billion yuan ($9.4 billion) in tax burdens from small businesses.

The premier stressed at the meeting that the move focuses on small and micro-companies, but will also give the whole economy a shot in the arm.

Tax deduction has been a priority of the State Council since 2013, with the annual taxable income threshold of small and micro-businesses eligible for halved income tax being constantly raised. It will be raised again from 500,000 to 1 million yuan.

It was also decided at the meeting to abolish the preclusion of the expenses of commissioned overseas R&D from additional tax deduction. The time limit for the capital loss carryover of high-tech firms and tech-based SMEs will be extended from five to 10 years. All enterprises will see the tax deduction for their employee training costs raised to 8 percent, the same rate as high-tech companies enjoy, from the current 2.5 percent. These three measures became effective on Jan 1.

In other business, measures of stamp duty relief for books of account were adopted, beginning on Tuesday.

Internet integrates with healthcare

The State Council issued a guideline on April 28 to promote health services through internet technologies.

The guideline, regarding "Internet Plus healthcare", said that the technologies should be used to offer medical and public health services, promote family doctor practices, improve drug supplies and medical bill settlement, carry out medical education, and provide artificial intelligence services.

The guideline encouraged better sharing of health information, improved hospital management and services and strengthened oversight of medical services and data safety.

It highlighted internet technologies raising the levels of healthcare in poor and border regions.