A taxpayer in Baokang county, Hubei province, enquires about filing procedures at the local tax office. [Photo by Yang Tao/for China Daily]

-- Tax relief policies

A State Council executive meeting on Feb 25 decided to exempt value-added taxes for small-scale taxpayers in Hubei province, which was hit hard by the novel coronavirus earlier this year, and cut taxes from 3 percent to 1 percent for those outside Hubei from March 1 to May 31.

Individual businesses will also see a cut in their insurance contributions. Industrial and commercial companies not from high energy-consuming industries enjoy a 5-percent cut in electrical charges.

-- Stabilizing foreign trade, investment

In April, the State Council decided to set up 46 new, comprehensive cross-border e-commerce pilot zones, bringing the total number to 105.

In addition to applying the practices proven effective in boosting the flow of commerce, firms in these zones enjoy such supportive policies as the exemption of value-added and consumption taxes on retail exports, and assessed levies of the corporate income tax.