Policymakers root for listing of forestry enterprises

The national forestry working conference concluded yesterday and produced an outline of industrial policies for forestry in a bid to offer extensive support to the development of the industry.

It was the brainchild of policymakers from the State Forestry Bureau, National Reform and Development Commission, Ministry of Finance, Ministry of Commerce, State Taxation Administration, China Banking Regulatory Commission and China Securities Regulatory Commission.

The supportive policies are said to comprise a wide range of taxation and financing measures, including tax cuts and scraps on the corporate incomes of enterprises engaged in agricultural and forestry projects, timely rebates of value-added tax on specific timber products, exemption of import tariffs and import value-added tax on certain equipment under the supported categories intended for the nation's industrial restructuring, and credit favors to forestry enterprises with an eye to go global.

Relevant departments will reform the existing forestation fund management methods and gradually return the fund to forestry-related manufacturers and operators. In terms of fiscal and financial support, state policy banks will provide financing services tailored for the forestry sector and grant loan term extensions accordingly.

In addition, supportive mechanisms will be established on extending small loans to individual forest farmers and employees, credit to small forestry enterprises and loan discounts to related planting, farming and resources development programs.

Major state-level industrial players that meet certain conditions will be supported and encouraged to go public on the domestic capital market.