No.231

Delegation led by Tu Guangshao Visited Huarui Bank
ReleaseDate: 2016-08-08

 

On the afternoon of June 2, a delegation led by Tu Guangshao, Member of the Standing Committee of CPC Shanghai Municipal Committee and Shanghai Executive Vice Mayor, and Yu Beihua, Deputy Secretary-general of the Shanghai Municipal Government, visited Shanghai Huarui Bank and convened investment-loan linkage special topic survey meeting. Chairman of JuneYao Group Wang Junjin, executives of nine banks including Huarui Bank, Shanghai Pudong Development Bank, Bank of Shanghai, and SPD Silicon Valley Bank joined the survey.

 

After listening to pilot trial info of each bank’s investment-loan linkage, Vice Mayor Tu Guangshao pointed out, the pilot trial of commercial bank investment-loan linkage can help banks better serve the real economy. While supporting innovation and start-up oriented enterprises, investment-loan linkage also imposes higher requirements on commercial banks’ risk prevention and control ability. The pilot banks in Shanghai area must fulfill stable start, and actively study detailed business model and service innovation.

 

When speaking of “Switching business tax to VAT”, Vice Mayor Tu emphasized that, “Switching business tax to VAT” is a key content in China’s tax system reform. As the early trial city for “Switching business tax to VAT” work and the chosen place for the construction of international financial center, Shanghai must actively and voluntarily feed back info about “Switching business tax to VAT”, especially “Switching business tax to VAT” info in the banking industry. On the other hand, the Shanghai Municipal Government will also properly arrange tax payment service for the banking industry, establish modern taxation collection system. Thirdly, Shanghai’s banking industry must also continually adapt to changes in taxation system, strengthen internal management, and tap potentials.