National Standing Committee: decided to continue to implement some preferential policies on individual income tax
Premier Li Keqiang presided over the executive meeting of the State Council on December 29 to deploy the prevention and control of the epidemic situation during the spring transportation in 2022; Decide to continue to implement some preferential policies for individual income tax; Determine measures to strengthen the construction of rural teachers and ensure that the children of migrant workers go to school.
In order to continuously reduce the burden of individual income tax taxpayers and relieve the pressure on low – and middle-income groups, the meeting decided that, first, the annual one-time bonus will not be incorporated into the salary income of the current month, and the policy of separate tax calculation by monthly conversion tax rate will be implemented until the end of 2023. Second, those whose annual income does not exceed 120000 yuan and need to make up tax or whose annual final tax amount does not exceed 400 yuan will be exempted from making up tax, and the policy will continue until the end of 2023. Third, the policy of separate taxation of equity incentive of listed companies will be continued until the end of 2022.
The above three policies are expected to reduce tax by 110 billion yuan a year. The burden reduction of individual income tax can directly improve residents’ disposable income, stimulate residents’ consumption, and also reflect the positive role of fiscal tax reduction and fee reduction.
For the covid-19 epidemic, the meeting pointed out that the current global epidemic situation is still severe and complex, and the epidemic broke out point by point in some parts of China. In view of the dense flow of personnel during the Spring Festival transportation, improve and pay close attention to the prevention and control of the epidemic situation during the Spring Festival transportation. We should implement local main responsibilities, guide scientific and orderly travel, and prevent one size fits all. Strengthen the transportation guarantee of key materials during the Spring Festival transportation, ensure the supply of materials for people’s livelihood, and improve plans to deal with bad weather.
Recently, due to the rapid spread of Omicron virus, the number of newly diagnosed cases in many European countries has rebounded significantly, and blockade measures have been restarted in many countries. At present, the epidemic will still disturb the global economy and its impact on the supply chain is still uncertain.
The financing balance increased. On December 28, the balance of A-share financing was 172.241 billion yuan, an increase of 2.809 billion yuan month on month; The balance of margin trading was 1838.377 billion yuan, an increase of 3.485 billion yuan month on month. The balance of financing minus securities lending was 1604.105 billion yuan, an increase of 2.132 billion yuan month on month.
Net inflow of land stocks and closure of Hong Kong stocks. On December 29, the net purchase transaction of land stock connect on that day was 662 million yuan, including 49.538 billion yuan of purchase transaction and 48.876 billion yuan of sales transaction, with a cumulative net purchase transaction of 162.1863 billion yuan.
Money market interest rates fluctuated. On December 29, Bank Of Shanghai Co.Ltd(601229) inter-bank offered rate Shibor’s overnight interest rate was 1.3430%, down 27.30bp, Shibor’s weekly interest rate was 2.2500%, up 0.50bp. The weighted interest rate of pledged repo of deposit institutions was 1.2814% overnight, down 28.82bp and 2.3650% a week, up 7.80bp. The 10-year yield to maturity of China national debt was 2.7854%, down 1.50bp.
European and American stock markets fluctuated. On December 29, the Dow Jones Industrial Average closed at 36488.63 points, up 0.25%; The S & P 500 index closed at 4793.06 points, up 0.14%; The NASDAQ index closed at 15766.22, down 0.10%. European stock markets, French CAC index closed at 7161.52 points, down 0.27%; Germany DAX index closed at 15852.25 points, down 0.70%; The FTSE 100 index closed at 7420.69, up 0.66%. In the Asia Pacific market, the Nikkei index closed at 28906.88 points, down 0.56%; The Hang Seng Index closed at 23086.54, down 0.83%.
The dollar index fell. On December 29, the US dollar index fell 0.27% to 95.9059. The euro rose 0.34% against the dollar to 1.1347. The dollar rose 0.12% against the yen to 114.9650. The pound rose 0.42% against the dollar to 1.3489. The spot exchange rate of RMB against the US dollar closed at 6.3714, depreciating by 0.00%. The spot exchange rate of offshore RMB against the US dollar closed at 6.3702, up 0.07%. The central parity rate of RMB against the US dollar closed at 6.3735, depreciating by 0.01%.
Gold fell, crude oil rose and copper rose. On December 29, Comex gold futures fell 0.07% to close at US $1805.40/oz. WTI crude oil futures rose 0.71% to close at US $76.59/barrel. Brent crude oil futures rose 0.48% to close at US $79.20/barrel. LME copper three-month futures rose 0.81% to close at US $9675 / ton.
