A Group of Leaders of Jiangsu Commissionner’s Office, the Ministry of Finance Arrives at Far East Holding Group Co., Ltd. for Research and Communication

    On June 22, a delegation led by Yang Guang, a member of Party Leadership Group of Jiangsu Commissioner’s Office, the Ministry of Finance of PRC, Deputy Commissioner, and Leader of the Discipline Inspection Group arrived at Far East Holding Group Co., Ltd (hereinafter referred to as “Far East Holding Group”) for research and communication. Jiang Xipei, Founder, Chairman of the Board and Secretary of Party Committee of Far East Holding Group, Li Taiyan, CFO of Far East Smarter Energy Co., Ltd.(hereinafter referred to as "Smarter Energy", stock code: 600869), Chen Jianhong, CFO of Far East Holding Group, Zhang Yan, an investor and Deputy Director of Financial Supervision Department of Far East Holding Group, and Ren Jianxi, an investor and Assistant to the Director of the Finance Department of Smarter Energy participated in the reception.

Jiang Xipei makes a speech

    Jiang Xipei reported the difficulties that face to entity enterprises currently to the visiting leaders, and put forward some relevant suggestions. He pointed out that if there is no change in the overall situation and idea, there is no breakthrough to the barriers that appeared in the private enterprises. He advocated that we should change and optimize the environment via the top-level design. To encourage technological innovation and improve product quality, some relevant laws and regulations in the economic management field such as Intellectual Property Law, and Invitation And Submission of Bids Law of The People's Republic of China should be optimized. Lower the threshold of the New Third Board investment, and be fully functional in optimizing financial structure and enhancing brand value, making over 11,000 New Third Board enterprises the significant force of Chinese economy. Adhere to the orientation of supporting the good and strong, centralizing resources to help good companies which are with international competitiveness and sustainable profitability in China.

    In the conference, Jiang Xipei raised some suggestions such as the merge of national tax and land tax, rise of the “personal income tax-individual salary income tax”exemption and reduction of rates, cancellation of stamp tax, allowance of interest deduction, reduction of enterprise income tax and consistent support for small and low-profit enterprises development. Furthermore, they shared and communicated the “main business + investment” strategy with the visiting leaders.

Chen Jianhong makes a speech

    Reviewing the revenue change in her working time for over 20 years, Cheng Jianhong admitted that although the overall policy tendency is tax reduction, the tax burden of enterprises is still heavy in recent years and the problems in personal income tax will actually shift to entity economy. In addition to taxes, the increase of financial interest rate aggravates the burden of enterprises this year. Due to the fact that China’s interest rate is relatively higher than that of other countries, she suggested the Central Bank to maintain the fundamental stability of interest rates. Moreover, she advocated strengthening the policy support to some new and high technology enterprises and enterprises which are with special contribution to reduce costs and increase benefits.

Li Taiyan makes a speech

    Li Taiyan compared the differences in personal income and interest rate between mainland and Hong Kong. He thought that the financial cost meant a great burden to listed companies, and the cost of capital was increasing in the first half of 2017.

Yang Guang makes a speech

    Introducing the duty of Jiangsu Commissioner’s Office, the Ministry of Finance  and the goal of this research, Yang Guang said that great gains and enlightenments were obtained in the visit. He will faithfully report the opinions of fiscal and monetary policy of entrepreneurs to the relevant leaders with specific duties in the Ministry of Finance of PRC and the relevant policy-making bureaus, including the problems, difficulties and suggestions in the process of policy implementation, providing evidences for decision making.

Scene of conference