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Factbox: China's progress in economic resumption
2020/9/7 15:03:01 Source:Xinhua

BEIJING, Sept. 1 (Xinhua) -- China's success in controlling COVID-19 means the economy is in a steady revival mode. The following facts and figures indicate how the country is forging ahead in resuming work and production:

-- China's resource tax law came into effect on Tuesday, aiming to promote the conservation of natural resources and intensify the protection of the ecological environment.

The new law, based on the provisional regulations on resource tax, introduces unified tax items, clarifies the authorization for determining tax rates, and standardizes tax reduction and exemption policies, said Bu Xiang, a senior official with the State Taxation Administration.

It comprises 164 tax items that cover all discovered minerals and salts, and sets tax rates in categories in an effort to streamline tax declaration.

-- China's Ministry of Commerce (MOC) on Monday issued the rules on handling complaints from foreign-invested enterprises, which will come into force on Oct. 1 this year, to improve the foreign investment complaint system.

The rules consist of five chapters and 33 articles, further refining the relevant requirements of the foreign investment law and its implementing regulations.

The interim rules of the MOC on complaints of foreign-invested enterprises, which was published on Sept. 1, 2006, shall be repealed simultaneously.

The new rules broaden the scope of complaints, making it clear that foreign-invested enterprises and foreign investors may apply to the complaint agencies for solutions to their legitimate rights and interests being infringed upon by administrative acts, or report problems to the complaint agencies in the investment environment, and suggest improving relevant policies and measures.

-- Chinese insurers' premium income increased 7 percent year on year to 3 trillion yuan (437.29 billion U.S. dollars) in the first seven months of the year, official data showed.

Compensation expenses totaled 747.9 billion yuan in the period, up 3.1 percent from the same period last year, according to data released by the China Banking and Insurance Regulatory Commission.

By the end of July, total assets of the insurance industry stood at 22.06 trillion yuan, the data showed. Enditem

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