Hechi's fiscal revenue reaches $755m in H1

An aerial view of Hechi city. [Photo/Hechi Daily]

In the first half of this year, the city of Hechi's fiscal revenue reached 4.91 billion yuan ($755 million), a year-on-year increase of 13.6 percent, showing a good start for the 14th Five-Year Plan (2021-25), according to the Hechi municipal finance bureau on July 23.

Hechi has optimized its business environment to promote high-quality economic development. The city continues to implement the tax and fee reduction policies to reduce the burden on the real economy. As of the end of June, a total of 172,100 yuan of costs have been saved for six companies, and a total of 39.6 million yuan of  interest and liquidated damages expenses have been reduced for 229 companies.

The city has taken efforts to promote industrial revitalization. In the first half of the year, a total of 40.92 million yuan of various industrial special subsidies was invested to support the development of industrial enterprises. Hechi has utilized 1.14 billion yuan of local government bonds to invest in industrial park construction projects in order to provide a guarantee for investment promotion.

Furthermore, Hechi has actively introduced major projects and improved its financial support mechanism. Financial institutions in Hechi have accumulatively allocated 6.38 billion yuan of discount loans, benefiting 4,322 market entities, and reducing the burden of settled enterprises.

In the first half of the year, a total of 3.13 billion yuan of rural revitalization subsidy funds were implemented, which are planned to be used in the city's collective village industrial economy, industrial support facilities, discount loans, and rewards to support the rural revitalization development and infrastructure construction of its industries.