Guiyang takes measures to revive transportation sector

Guiyang, capital of Southwest China's Guizhou province, will roll out a series of measures to help the transportation industry recover from the COVID-19 epidemic. 

According to a circular issued by the Guiyang municipal government on May 12, Guiyang will suspend the prepayment of value-added tax policies for local branches of provincial railway transport enterprises from Jan 1 to Dec 31 this year. 

The city will also suspend the prepayment of value-added tax policies for air transport enterprises in 2022 and implement subsidy policies for eligible airlines.

Income obtained by taxpayers from public transport services such as ferries, buses, subways, urban light rail, taxis, coaches, and shuttle buses will be exempt from value-added tax. 

The city will directly distribute rural passenger transport subsidy funds and urban transport development incentive funds to rural passenger transport, tourist chartered passenger transport, buses, taxis and waterway passenger transport enterprises. 

It will try to convince the Central Government to further increase subsidies for local funds for vehicle purchase tax revenue in the city, and support the construction of roads, water transportation, and comprehensive freight hubs. 

In addition, financial institutions in Guiyang will be encouraged to innovate in movable property pledge loan products targeting road and water transportation enterprises, so as to revitalize vehicle and ship assets, and to increase financial support for transportation enterprises with high credit ratings and heavy burdens related to epidemic prevention and control.