Annual reports of listed companies 2013

　　As of April 30, 2014, there had been totally 2537 listed companies in the stock markets of Shanghai and Shenzhen. All of them released their annual reports of 2013 except three ones. However, part of the listed companies has such problems with execution lace of the announcement of the newly-released accounting standards and information disclosure explanation, disclosure inadequacy of accounting professional judgment basis and simpleness and inaccuracy of information disclosure. Based on the analysis of type of audit opinions, there are totally 2402 standard opinion audit reports and 84 non-standard opinion audit reports. Moreover, in 2013 a total of 1052 main board listed companies were incorporated into the internal control regulations, about accounting form 73% of all the main board listed companies.

　　Small and micro businesses with the monthly sales below RMB30,000 are exempted from the VAT and business tax

　　Li Keqiang, Premier of the State Council, presided over the executive meeting of the State Council on September 17, and made the resolution that based on the existing execution of small and micro businesses, individual businesses and other individuals with the monthly sales of no more tthan RMB20,000 being temporarily exempted from the VAT and business tax, those with the monthly sales ranging from RMB20,000 to RMB30,000 will be also incorporated into the scope of being temporarily exempted from the above-mentioned taxes as of October 1 of this year to the end of 2015. And for the small and micro businesses engaging in the national encouraged projects and importing the advanced equipment that can’t be manufactured at home for their own use shall be exempted from custom duties.

　　The business tax of real estate in August witnessed a negative growth again

　　In August, the total government revenue stood at RMB910.9b, up 6.1% year-on-year, of which tax revenue amounted to RMB728.7b, up 1.9% year-on-year. Impacted by the continuous downturn of the real estate industry, the business tax of real estate saw a negative growth, down 7.4%. In July, the business tax of real estate rose 4.7% and 6.6% from January to June.