The National Development and Reform Commission (NDRC) has issued a significant document: supporting private enterprises to participate in major technological breakthroughs such as cloud computing, artificial intelligence, and new energy storage.

On August 1st, the National Development and Reform Commission and other departments issued a notice on implementing several measures to promote the development of the private economy. The key points of the notice are as follows:

The notice points out the support for private enterprises to participate in major technological breakthroughs and take the lead in undertaking research tasks in the fields of industrial software, cloud computing, artificial intelligence, industrial internet, genetics and cell medicine, and new energy storage.

The notice also emphasizes the promotion of healthy development of the platform economy and the continuous release of "green light" investment cases for platform enterprises.

It is stated in the notice that the support for inclusive finance will be further strengthened. The support tools for inclusive microfinance will be extended until the end of 2024, guiding commercial banks to access financing credit service platforms such as "Xinyidai" and local credit platforms, and strengthening interdepartmental credit information sharing. The scale of credit loans for private enterprises will be expanded. The management system for writing off bad debts of financial enterprises will be effectively implemented.

In addition, the notice points out that the new model of central-local cooperation in private enterprise bond credit enhancement will be expanded to all types of private enterprises that meet the issuance conditions, and more demonstration cases will be formed as soon as possible.

Here is the original text from the National Development and Reform Commission:

Notice from the National Development and Reform Commission and other departments on implementing several measures to promote the development of the private economy

Development and Reform Commission Reform [2023] No. 1054

Ministry of Justice, Ministry of Human Resources and Social Security, Ministry of Natural Resources, Ministry of Ecology and Environment, Ministry of Housing and Urban-Rural Development, Ministry of Transport, Ministry of Water Resources, Ministry of Commerce, Ministry of Emergency Management, National Audit Office, State-owned Assets Supervision and Administration Commission of the State Council, China Securities Regulatory Commission, National Intellectual Property Administration, National Energy Administration, All-China Federation of Industry and Commerce:

In order to thoroughly implement the decision-making arrangements of the Party Central Committee and the State Council on promoting the development and growth of the private economy, fully implement the Opinions of the CPC Central Committee and the State Council on promoting the development and growth of the private economy, promote the resolution of prominent problems in the development of the private economy, stimulate the vitality of the private economy, and boost confidence in the development of the private economy, the following measures are now proposed.

I. Promoting fair market access

1. In major national projects and projects to address shortcomings, a list of major projects that encourage private capital participation will be formed by selecting projects with a certain level of profitability and relatively mature conditions. By organizing major project promotion conferences, opening special columns on the national investment project online approval and supervision platform, and other means, project information will be concentratedly released to private enterprises, actively guiding project implementation. Localities should compare with the above measures, form a list of projects that encourage private capital participation, and strengthen promotion. (Responsible units: National Development and Reform Commission, Ministry of Industry and Information Technology, All-China Federation of Industry and Commerce)

2. Expand the scale of real estate investment trust funds (REITs) in the field of infrastructure, and promote the issuance of infrastructure REITs for eligible private investment projects to further expand private investment. (Responsible units: National Development and Reform Commission, China Securities Regulatory Commission)

3. Support private enterprises to participate in major technological breakthroughs, take the lead in undertaking research tasks in the fields of industrial software, cloud computing, artificial intelligence, industrial internet, genetics and cell medicine, and new energy storage. (Responsible units: Ministry of Science and Technology, National Development and Reform Commission, Ministry of Industry and Information Technology)

4. Enhance the supply capacity of private enterprises in key links of the industrial chain and supply chain, and cultivate a number of small and medium-sized enterprise characteristic industry clusters within the county scope nationwide. (Responsible Unit: Ministry of Industry and Information Technology)

5. Promote the healthy development of the platform economy and continuously introduce "green light" investment cases for platform enterprises. (Responsible Units: National Development and Reform Commission, Ministry of Industry and Information Technology, Ministry of Commerce, State Administration for Market Regulation, People's Bank of China)

6. Support "Little Giant" enterprises specialized in key areas and high-tech enterprises to register in the local national-level intellectual property protection centers, and carry out rapid pre-examination, rapid confirmation, and rapid rights protection. (Responsible Units: National Intellectual Property Administration, Ministry of Industry and Information Technology, Ministry of Science and Technology)

7. Carry out the certification upgrade action for the quality management system of private enterprises, and enhance the quality and technological innovation capabilities of private enterprises. Support private enterprises in leading the establishment of international industry and standard organizations. Continuously carry out the "Measurement Services for Small and Medium-sized Enterprises" activity, support private enterprises in participating in the construction of industrial measurement and testing centers, and enhance the advanced measurement capabilities of private enterprises. (Responsible Units: State Administration for Market Regulation, Ministry of Industry and Information Technology, Ministry of Civil Affairs)

8. In accordance with the requirements of the "Several Measures to Support the Stable Growth, Structural Adjustment, and Strengthening of the Capabilities of Small, Medium, and Micro Enterprises" (MIIT Enterprise Letter [2023] No. 4), extend the policy deadline for the government procurement projects to reserve more than 40% for small and medium-sized enterprises until the end of 2023. Accelerate the progress of contract payment, use credit guarantees to facilitate the participation of small and medium-sized enterprises in procurement activities. (Responsible Units: Ministry of Finance, Ministry of Industry and Information Technology)

9. Carry out special governance for prominent problems in engineering construction bidding, and take measures such as administrative penalties, urging rectification, and case notification to address local protection and ownership discrimination issues that are strongly reflected by private enterprises. Support various regions in exploring the application of electronic business licenses in bidding platforms for login, signature, online contract signing, and other businesses. (Responsible Units: National Development and Reform Commission, State Administration for Market Regulation, Ministry of Housing and Urban-Rural Development, Ministry of Transport, Ministry of Water Resources, State-owned Assets Supervision and Administration Commission of the State Council)

10. Revise and issue a new version of the negative list for market access, and promote various types of market entities to enter industries, fields, and businesses outside the list on an equal basis in accordance with the law. (Responsible Units: National Development and Reform Commission, Ministry of Commerce, State Administration for Market Regulation)

2. Strengthening Factor Support

1. Based on the declaration period for prepayment of corporate income tax in October of the current year and the settlement and payment period from January to May of the following year, add the declaration period for prepayment in July of the current year as a time point for enjoying the policy. Industry enterprises that meet the conditions can declare and enjoy the policy of additional deduction for research and development expenses according to regulations. (Responsible Units: State Taxation Administration, Ministry of Finance)

2. Continuously ensure that the average processing time for normal export tax refund for export enterprises is within 6 working days, and compress the average processing time for normal export tax refund (exemption) for Class I and Class II export enterprises within 3 working days, with the policy implementation extended until the end of 2024. Update and release the country (region) investment tax guide to help private enterprises better guard against cross-border investment tax risks. (Responsible Unit: State Taxation Administration)

3. Extend the support tool for inclusive micro-loans until the end of 2024, and continue to increase support for inclusive finance. Guide commercial banks to access financing credit service platforms such as "Credit Easy Loan" and local credit platforms, and strengthen interdepartmental credit information connectivity. Expand the scale of credit loans for private enterprises. Effectively implement the bad debt write-off management system for financial enterprises. (Responsible units: People's Bank of China, National Development and Reform Commission, China Banking and Insurance Regulatory Commission)

4. Expand the new model of central-local cooperation in private enterprise bonds to all types of private enterprises that meet the issuance conditions, and form more demonstration cases as soon as possible. (Responsible units: China Securities Regulatory Commission, National Development and Reform Commission, Ministry of Finance)

5. Adapt to the land demand of private small and micro enterprises, explore the implementation of industrial chain land supply, and implement overall supply for multiple parcels of land related to industrial chain projects. (Responsible units: Ministry of Natural Resources, Ministry of Industry and Information Technology)

6. In addition to legal regulations and relevant policy provisions, within the scope of urban planning and construction land, the investment interface of water, gas, and electricity supply enterprises shall be extended free of charge to the red line of enterprise building zoning. (Responsible unit: Ministry of Housing and Urban-Rural Development)

7. Grant the title evaluation authority to private enterprises, allow large-scale private enterprises with strong technical strength to independently or jointly establish title evaluation committees and conduct independent evaluations. (Responsible unit: Ministry of Human Resources and Social Security)

III. Strengthen the Rule of Law Guarantee

1. Clean up and abolish regulations and normative documents that violate the principle of equal protection of various ownership economies, and strengthen the protection and support for the development of the private economy. (Responsible unit: Ministry of Justice)

2. In accordance with Article 33 of the Administrative Penalty Law of the People's Republic of China, specific circumstances in key areas such as urban management, ecological environment protection, and market supervision shall be clearly defined as not subject to punishment. Introduce the "Guiding Opinions on Further Standardizing the Setting and Implementation of Supervisory Administrative Fines." Carry out a special cleanup of fine-related matters in administrative regulations and departmental rules and regulations, and publish the results to the public. (Responsible units: Ministry of Justice, Ministry of Ecology and Environment, State Administration for Market Regulation, Ministry of Emergency Management)

IV. Optimize Enterprise-related Services

1. Build a comprehensive and harmonious relationship between the government and businesses, support regions to explore different ways to serve private enterprises, fully utilize digital means such as the national integrated e-government service platform to enhance the effectiveness of policies and services for enterprises, and take multiple measures to help private enterprises solve problems and difficulties. (Responsible units: All-China Federation of Industry and Commerce, National Development and Reform Commission)

2. Establish a management system for the list of intermediary services related to enterprise-related administrative permits. Items not included in the list shall no longer be used as acceptance conditions for administrative approval. If new items are needed in the future, they shall be established and included in the list in accordance with statutory procedures. Include intermediary service items in the integrated e-government service platforms at all levels, realize online processing of the entire process including institution selection, fee payment, report uploading, and service evaluation, and accept public supervision. (Responsible units: Ministry of Industry and Information Technology, State Administration for Market Regulation, National Development and Reform Commission)

3. Increase efforts to clear the outstanding payments owed to private enterprises, with a focus on clearing the accounts payable to small and micro enterprises by government agencies, public institutions, and state-owned enterprises. The auditing department will accept clues provided by private enterprises regarding outstanding debts and strengthen auditing supervision. (Responsible units: Ministry of Industry and Information Technology, National Development and Reform Commission, Ministry of Finance, National Audit Office, State-owned Assets Supervision and Administration Commission of the State Council, State Administration for Market Regulation)

4. Fully implement the simplified deregistration and regular deregistration systems, and improve the "One-stop Service" platform for enterprise deregistration. Improve supporting policies and measures for business suspension. (Responsible units: State Administration for Market Regulation, Ministry of Human Resources and Social Security, State Taxation Administration)

5. Except for cases where confidentiality is required by law, the formulation and revision of policies related to enterprises should fully consider the opinions and suggestions of entrepreneurs. Reasonable transition periods should be set for policy adjustments concerning enterprises. (Responsible unit: National Development and Reform Commission)

V. Create a Favorable Atmosphere

1. Establish a hierarchical and unobstructed channel for enterprise complaints. Publish special announcements on enterprise-related issues on the State Council's "Internet Plus Supervision" platform and set up a dedicated column for collecting enterprise-related issues on the national government service platform for complaints and suggestions. Localities should incorporate enterprise complaint matters into the "12345" hotline and other government service platforms, and establish a mechanism for transferring and tracking rectification. Continue to carry out the evaluation of the business environment for thousands of private enterprises. (Responsible units: General Office of the State Council, State Administration for Market Regulation, National Development and Reform Commission, All-China Federation of Industry and Commerce)

2. Carry out special campaigns such as "cracking down on counterfeiting and extortion," and lawfully combat the "online blackmouths" and "black industrial chains" that deliberately hype, spread rumors, and defame private enterprises and entrepreneurs. (Responsible units: Ministry of Public Security, China Securities Regulatory Commission, All-China Federation of Industry and Commerce)

3. Incorporate the implementation of support for the development of the private economy in various regions into the annual comprehensive inspection of the State Council. Promptly urge rectification for identified problems and promote and publicize good experiences and practices. Establish a special award and support program for promoting private investment within the central budget, providing rewards and support to a group of cities and counties with fast-growing, high-proportion, dynamic, and effective measures for private investment. (Responsible units: General Office of the State Council, National Development and Reform Commission)

4. Commend and reward collectives and individuals who have made outstanding contributions to the development of the private economy in accordance with relevant national regulations. Promote the entrepreneurial spirit and play a leading role as advanced benchmarks. (Responsible units: All-China Federation of Industry and Commerce, National Development and Reform Commission, Ministry of Industry and Information Technology)

National Development and Reform Commission

Ministry of Industry and Information Technology

Ministry of Finance

Ministry of Science and Technology

People's Bank of China

State Taxation Administration

State Administration for Market Regulation

China Banking and Insurance Regulatory Commission

July 28, 2023