Xinjiang “8 in 1” simplifies the management of subsidy funds in textile and garment industry

The Finance Department of Xinjiang Uygur Autonomous Region recently issued the "Measures for the Administration of Special Subsidy Funds for Textile and Garment Industry in Xinjiang Uygur Autonomous Region", in maintaining the original "textile and garment enterprise loan interest subsidies, textile home textiles and other textile deep processing products, shipping costs and textile fabric subsidies, wool spinning and spinning The original 8 subsidies will be provided on the premise that the products will be subsidized by the freight, the cotton cotton cloth freight, the financial subsidies for the enterprise electricity, the newly recruited pre-employment training subsidies for the Xinjiang employees, and the social insurance subsidies. The fund management approach was merged into a comprehensive approach.

The measures have also been revised and improved on the existing measures for the management of subsidies in the textile and garment industry in the autonomous region:

The first is to clearly review the responsibility. In accordance with the principle of who uses the audit, a special subsidy fund joint review institution is set up in each county and city, and the county leaders in charge of finance take the lead. The finance, the letter, the national tax, the human society and other departments determine the special personnel, which are responsible for reviewing the subsidy. funds.

The second is to pre-allocate subsidy funds and speed up the redemption process. The subsidy funds shall be pre-allocated and liquidated, and will be pre-allocated once every six months by the autonomous region's finances. At the same time, the people's governments and relevant departments of the counties and cities may, according to the actual situation in the locality, pay the subsidy funds to the enterprises on a quarterly or semi-annual basis to speed up the progress of the disbursement of subsidy funds.

The third is to implement dynamic management of freight subsidies. The dynamic subsidy for the freight subsidies for cotton yarns in Xinjiang is implemented. When the actual shipping costs are lower than the subsidy standards, the actual shipping costs approved by the autonomous region will be subsidized. Appropriately restrict the excessive export of cotton yarn to ensure the normal use of cotton yarn by the weaving enterprises in Xinjiang.

The fourth is to simplify the funding disbursement process. In accordance with the development of the textile and garment industry in the autonomous region, the number of approved employment of the Office of the Leading Group for Employment will be granted to the employees of the enterprise in a one-off manner, and the relevant procedures will be simplified.

The fifth is to strengthen supervision over the use of funds. The Autonomous Region Development Textile and Apparel Industry Drives the Employment Leading Group Office to meet with the Ministry of Economic Affairs, Finance, Human Resources and other departments every year, and entrusts third-party intermediaries to conduct full coverage verification of the use of subsidized funds.

The introduction of the measures will have a significant role in promoting the development of Xinjiang's textile and garment industry. First, the review and payment of various subsidy funds was handed over to the county government, which mobilized the enthusiasm of the grassroots work. Second, the subsidy funds are pre-allocated, accelerating the progress of subsidy fund redemption, and effectively alleviating the difficulty of financing enterprises. Third, the autonomous region has carried out full coverage verification and tracking of the use of subsidy funds to ensure the safety of subsidy funds. The fourth is to include the equipment financing leasing loans of the four states in southern Xinjiang into the scope of interest subsidies, and implement special preferential policies to promote the balanced development of industries in the north and south. (China Financial News)

Editor in charge: Song Jun