BEIJING, June 30 (Xinhua) -- China's State Council on
Monday unveiled a raft of fiscal measures to support reconstruction after the
May 12 earthquake, including the exemption of corporate income taxes this year
for companies that suffered heavy losses.
The Cabinet announced a range of policies, including
taxation, credit and employment policies, to support reconstruction as well as
tax relief for company's funding reconstruction.
It also promised a six-month extension on all loan
repayments in arrears due to the quake.
The State Council said affected companies would be
given priority in applications for initial public offerings on the stock market
or refinancing plans if already listed.
"The affected organizations are also encouraged to
raise funds for reconstruction on the bond market," the Cabinet announcement
said.
Insurance institutions would be instructed and
coordinated to invest funds in key reconstruction projects as well as
infrastructure in the quake zone, according to the statement.
The magnitude-8.0 quake that jolted southwest China's
Sichuan Province last month had claimed 69,195 lives as of Monday noon. The
number of the injured stayed at 374,177 and people reported missing dropped one
from Sunday's figure to 18,403.
The State Council also announced on Monday that new
homes for survivors would be exempted from land use and other land-related
taxes.
In addition to subsidies averaging 10,000 yuan for
each homeless household, the Cabinet said interest on home loans to quake
survivors would be lowered by 40 percent, compared with the benchmark interest
rate.
The minimum down-payment would be cut to 10 percent
of the loan, compared with 20 to 50 percent in other parts of the country.
The State Council also pledged to find employment for
at least one member of each jobless family, and to subsidize the required social
security insurance for companies that employed such people.
Chinese Premier Wen Jiabao speaks during
the 22nd meeting of the headquarters for quake-relief command of the State
Council, in Beijing, capital of China, June 26, 2008. (Xinhua/Huang
Jingwen)Photo
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BEIJING, June 26 (Xinhua) -- The headquarters for
quake-relief command of the State Council, China's Cabinet, on Thursday called
for priority in reconstructing public facilities such as schools and hospitals
in the country's southwestern quake-hit region.
At a regular meeting presided over by Premier Wen
Jiabao, the headquarters clarified the main tasks of the relief and
reconstruction in the quake-hit zone, giving priority to rebuilding and quality
of public facilities that were closely related to the lives of local
residents. Full story
BEIJING, June 26 (Xinhua) -- China on
Thursday passed a report on the relief work and reconstruction following the May
12 quake that devastated the southwest Sichuan and some neighboring provinces.
The decision was made at the third session of the
Standing Committee of the 11th National People's Congress (NPC), China's top
legislature. Full story
