In 2021, various departments at all levels across the province implemented policies for easing the difficulties and increasing efficiency of businesses. They cut 24 billion yuan of newly-added tax and fees, and reduced 4.45 billion yuan of financial fees and interest concessions. The balance of inclusive finance lending to micro and small business increased by 22%. The enterprises gained a stronger sense of fulfillment.

 

In 2022, Hunan government has arranged and carried out such special actions as promoting the high-quality development of market entities, adding industrial enterprises above designated size, the “Golden Lotus” action plan for corporate listings, and the “Trillion-Billion-Million-Yuan” projects for industrial development. This aimed to expand growth volume, stabilize existing quantity, and improve quality. Between January and February, the added value of industries above designated size in Hunan Province increased by 9.8% year on year, 2.3 percentage points higher than the national growth rate.

 

On March 29, Hunan government issued Several Policies for Promoting the Steady Growth of the Industrial Economy to further strengthen fiscal taxation and financial support, promote investment and consumption, and increase the guarantee of land and energy elements, forming a policy synergy for revitalizing the industrial economy.

 

The authority introduced that by the end of 2022, the profits of large-scale industrial enterprises in the province will increase by more than 10%.