China Defers SME Taxes, Extends Incentives to Foreign Bond Holders: Newspaper

China's move to defer some tax payments for small manufacturing firms for three months from November will help the country stabilize its economy, ease companies' capital shortages and stabilize employment, The Paper said following a State Council measure to postpone CNY200 billion tax payments. With rising commodity prices, SMEs face difficulties operating, the newspaper said. Coal and heating companies can also enjoy deferred tax payments worth CNY17 billion in Q4 to help resolve their operational difficulties, the newspaper said. Separately, China also extended the tax exemptions on bond interests for foreign investors until the end of 2025, a move that intends to stabilize foreign investment amid the Evergrande Group's debt crisis.