Financial bureau helps firms weather hard times

Qingzhen bureau of finance – located in Guiyang, Southwest China's Guizhou province – have acted proactively to help local enterprises to weather hard times and ensure their stable and healthy development.

A value added tax (VAT) credit refund work plan for 2022 was formulated in accordance with the requirements of municipal and provincial government. The bureau has coordinated with Qingzhen's taxation bureau and banks to fulfill the tax refund work at all phases.

As a result, it has returned 710 million yuan ($106.5 million) in VAT to the enterprises involved, which has largely boosted their confidence.

In addition, from 2021 to 2022, the bureau has issued funds of 166.54 million yuan and 130.96 million yuan of loans for firms in difficulty.