New policy to aid entrepreneurs

China has unveiled a new pro-growth regulation for self-employed business owners, including policies that provide greater support in terms of taxation, finance and the protection of intellectual rights, in a bid to inject fresh impetus into individual and small, family-run businesses.

The Regulation on Advancing the Development of Self-employed Businesses, which came into force on Nov 1, sets out detailed policies on refining the business environment and also on protecting the legal rights and interests of self-employed people.

Other key measures include easing procedures for the self-employed to change ownership and upgrade to enterprise status, and tailored aid packages to help with innovation, financing and professional training.

Source from State taxation administration of the P.R.C.

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