"**Abstract**: 'This is a set of policy measures aimed at steady growth, designed with both current and long-term perspectives in mind.' Experts have highlighted the significance of the three key policies announced by the State Council executive meeting on the 24th. Premier Li Keqiang presided over the meeting, where several important decisions were made to support economic stability and development.
On August 1st, the State Council decided to temporarily exempt small and micro enterprises from value-added tax (VAT) and business tax if their monthly sales are below 20,000 yuan. This move is expected to provide immediate relief to more than 6 million such businesses, which directly impact the employment and income of tens of millions of people. The government also emphasized the importance of studying the long-term effects of these policies to ensure sustainable benefits.
In response to the increasingly complex and challenging trade environment, the State Council has pledged to improve trade facilitation through institutional innovation. This includes simplifying customs procedures with a "one declaration, one inspection, one release" system, reducing administrative fees, and temporarily waiving statutory inspection fees for exported goods. Additionally, plans are underway to implement a zero tax rate on service exports and gradually expand service imports to enhance competitiveness.
The railway sector is also receiving attention as part of the broader strategy to boost infrastructure and regional development. The State Council has called for full market openness in railway construction, with priority given to projects in central and western regions, as well as poverty-stricken areas. To finance these projects, multiple channels will be used, including central fiscal support, social capital investment, and new railway development funds. Innovations in bond issuance and the opening of ownership rights for inter-city and resource-based railways are also being explored.
Experts emphasize that railways are not only a vital infrastructure but also a key driver of economic growth. By breaking down investment barriers and introducing innovative financing mechanisms, the country can attract significant social capital and accelerate progress on major railway projects. These measures aim to strengthen the foundation for long-term economic stability and resilience."
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