Briefly

Shenzhen's financial added value at $76b

China's major financial hub of Shenzhen, Guangdong province, saw the added value of its financial industry reach nearly 513.8 billion yuan ($76 billion) in 2022, data showed. Despite the impact of COVID-19 and other adverse factors, Shenzhen's financial sector has shown great resilience and its added value saw an average annual increase of 8.3 percent in the past three years, according to data released by the local financial regulatory bureau of Shenzhen. By 2022-end, the total assets of Shenzhen's banking sector had reached 12.2 trillion yuan, an annual increase of 8.5 percent.

Jiangsu moves to boost recovery

Jiangsu province recently unveiled dozens of proactive policies to expand the momentum of economic recovery. For taxpayers (enterprises) in fields like accommodation and catering, sports and entertainment, transportation, tourism, retail, and warehousing, the real estate tax and urban land use tax in the first half will be temporarily exempted, according to a document issued by the provincial government. Thanks to the preferential measure introduced in 2020, local enterprises were exempted from nearly 8.6 billion yuan ($1.3 billion) last year.

China Daily - Xinhua