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36 Policies from Sichuan Provincial People’s Government to Support the Reconstruction of Jiuzhai Valley Earthquake-Stricken Area

  Sichuan Provincial People’s Government has published Policies and Measures for the Reconstruction of Jouzhai Valley Earthquake-Stricken Area, which states that the provincial finance sector is to arrange funds of central and provincial level for prefectures and counties and support the Jiuzhai Cultural Tourism Rejuvenation Fund.

  It includes 36 detailed policies in 10 categories, including finance, taxation, banking, land, employment, social security, prevention of disasters, ecological preservation, reconstruction of the scenic area, industrial development, housing reconstruction and infrastructure.

  In terms of finance, residency and cultural industry in the disaster area will get financial aid of 2 categories of 3 levels. People of category 1---the house has collapsed or been severely destructed will get housing reconstruction fund and those of category 2---the house can be repaired have 3 levels aid: slight damage: 1000-3000 yuan per household; moderate damage: 3000-5000 yuan per household; severe damage: 5000-8000 yuan per household.

  For taxation, there are 3 items of tax relief. Taxpayers developing or producing products which should be taxed, can get resource tax relief if they have heavy losses in the earthquake; building taxes relief and land use tax relief are for those with difficulties paying taxes; 70% of individual income tax is exempted for those with heavy losses in the earthquake.

  In terms of employment and social security, 7 measures for people's livelihood are to be conducted in employment aid, business starting, unemployment insurance, and endowment insurance. For endowment insurance, companies that have stopped production, closed business or seriously affected by the earthquake can apply for a deferred payment of endowment insurance; the consecutive deferring period shall not exceed 1 year during which surcharge of overdue payment is exempted.

  In banking sector, 6 preferential policies including differentiated credit, market access and permission of direct finance of companies in disaster-stricken area are to be conducted. For example, priority is given to the post-disaster rebuilding of their credit fund as well as credit scale; establishment of small credit companies are encouraged and the least registered capital is reduced to no less than 5 million yuan.

 

 
 
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