During this year's two sessions, Government Work Report and related ministries announced tangible preferential policies and initiatives for entrepreneurs.

Tax burdens will be relieved

1.The annual corporate taxation and social security contributions were reduced by nearly 2 trillion yuan ($298.5billion).

2. 17.98 million enterprises accounting for more than 95 percent of the total number of taxpaying companies in the country are included in the scope of tax reduction.

3. Halve the levying of six local taxes.

4. Further expand the scope of application of tax incentives for technology start-ups.

5. Reduce the current value-added tax (VAT) rate of 16 percent in manufacturing and other industries to 13 percent.

6. It is necessary to cut some social security burdens of enterprises, especially for small and micro companies this year.

7. Stabilize the current tax levying mode. The entirety of the taxation department shall not increase the payment burden of small and micro enterprises when reforming the expropriation system, and may not collect the historical arrears on their own.

8. The average electricity price of industry and commerce will be reduced by 10 percent.

9. Speed up the construction of all-in-one list of charges.

More preferential policies

10. Raise the starting point of the VAT for small-scale taxpayers from 30,000 yuan to 100,000 yuan.

11. At least 30 percent of the procurement budget planning of the government should be reserved for small and medium-sized enterprises (SMEs)

12. Large state-owned commercial banks should increase their loans to small and micro enterprises by over 30 percent this year.

13. A price deduction policy is given to small and micro-sized enterprises participating in procurement competition.

14. Set up the sci-tech innovation board and launch the pilot registration system, meanwhile encourage the issuance of innovation and entrepreneurship financial bonds, to support the development of venture capitals.

15. Establishment of advance payment guarantee system is under plan, which means some loans of SMEs can be taken out in advance.

Easier access to financial support

16.The guaranteed loan limit for individual start-up businesses will be increased from 100,000 to 150,000 yuan.

17. SME business guarantee loans will be raised from 2 million to 3 million yuan, with some charges to be discounted.

18. Intensify targeted cuts to required reserve ratios of small and medium-sized banks, and all the funds released will be used to provide private enterprises and small and micro businesses with loans.

19. 10 billion yuan will be used for the subsidy of business-guaranteed loans, including farmers who are self-employed in rural areas. A financing guarantee fund has been established and the re-guarantee rate does not exceed 0.5 percent.

20. Around 16 trillion yuan of the insurance investment funds can be invested in private enterprises and small and micro businesses.

Easy and convenient approval

21. It is necessary to carry out the reform in the “separation of business licenses and government permits”.

22. The reform of the examination and approval system for engineering construction projects was launched across the country, so the time for approval was greatly shortened.

23. Accelerate the implementation of unified online government services, so that more matters can be addressed online. For matters requiring offline services, the procedures should be minimized as much as possible.

24. Establish an evaluation system for government services.