Recently, 14 departments including the national development and Reform Commission issued several policies on promoting the recovery and development of difficult industries in the service industry, proposing 43 policies and measures in three aspects. Among them, the inclusive support and relief measures mainly include the continuation of the service industry value-added tax plus and minus policy; Expand the scope of application of "six taxes and two fees" to small low profit enterprises and individual industrial and commercial households; Increase the pre tax deduction of equipment and appliances in small, medium-sized and micro enterprises; Continue to implement the policy of periodically reducing insurance rates and returning unemployment insurance; Rent reduction and appropriate assistance for small and micro enterprises in the service industry and individual industrial and commercial households; Guide banks to make good use of the 2.2 trillion funds released by the RRR reduction to give priority to supporting the service industry, promote the fee reduction and profit transfer of the financial system, and a total of 10 policies and measures from the perspectives of fiscal and tax policies, insurance, employment support, rent reduction and financial support to guide the overall situation and help the recovery of the service industry.
Core content:
It is hoped that the operating costs of the catering industry will be reduced and the insurance service measures will be optimized. The "several policies" guide the delivery platform to reduce the standard of merchant service fees, allow the phased implementation of the policy of delaying the payment of unemployment insurance and work-related injury insurance premiums, guide financial institutions to issue credit loans, encourage diversified financing of catering enterprises and financing guarantee institutions to provide credit enhancement support to qualified enterprises, and advocate insurance institutions to expand insurance coverage and improve claim settlement efficiency, Encouraging local governments to give premium subsidies is expected to strengthen the protection of the catering industry under risk.
The retail industry should make efficient use of development funds and improve the product circulation network. The "several policies" point out that the central government will strengthen the construction of County commercial system through the development funds of service industry, promote the upward movement of Shenzhen Agricultural Products Group Co.Ltd(000061) , the sinking of supply chain, logistics distribution and goods and services, strengthen the construction of Shenzhen Agricultural Products Group Co.Ltd(000061) circulation network, allow the phased implementation of the policy of delaying the payment of unemployment insurance and work-related injury insurance premiums, and encourage institutions to increase the credit support of listed enterprises, It is expected to ease the operating pressure of retail enterprises from the cost side.
The deposit of tourism industry may increase the proportion of temporary retirement, and the government procurement shall be standardized. The "several policies" propose to continue to maintain the 80% temporary withdrawal ratio of the deposit for qualified travel agencies, encourage the proportion to be increased if conditions permit, and expand the pilot scope of insurance replacing the deposit, which is expected to alleviate the cash pressure and protect the capital chain of travel agencies. It is pointed out that government procurement service projects shall not restrict the participation of relevant enterprises, and travel agencies are encouraged to undertake trade union activities of organs and institutions that meet the regulations. The service scope of travel agencies is expected to be expanded.
The transportation industry will increase construction subsidy support and promote the cancellation of aviation fuel related expenses. The "several policies" specify to further increase the subsidy of vehicle purchase tax income to local funds, exempt the value-added tax of public transport services in stages, coordinate resources to subsidize the construction of civil aviation infrastructure, and promote China Aviation Fuel Group Co., Ltd. to negotiate with upstream enterprises to cancel the sea transportation premium (US $2 / barrel), port fee (50 yuan / ton) and other expenses in the price of aviation kerosene, It will reduce the operating costs of airlines and hub airports.
Investment suggestions:
The impact of the epidemic on the service industry has not stopped. The issuance of this policy has strengthened the assistance to enterprises in difficulty, encouraged multi-party profit sharing and mutual cooperation, and the words such as reducing payment, deferred payment, reduction, diversified financing and strengthening cooperation have appeared many times in the document. It is a highly targeted and powerful precise assistance, including the operating expenses, epidemic prevention expenses, rental costs The problem of financing channels may be alleviated, which is expected to overcome the financial difficulties and breed new opportunities. The cultural and tourism industry is expected to operate stably throughout the year, recover gradually and maintain a stronger rating than the market. Continue to recommend tax-free leading enterprises, hotels and scenic spots in the process of cultural and tourism recovery, as well as good targets for ice and snow tourism and happy life services.
Main risks of rating:
Covid-19 virus epidemic situation is repeated, the industry recovery is less than expected, and the implementation and implementation of policies are less than expected.
