New Plan for Western Development:Resource Tax Benefiting the West
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2024-10-20
Recently, a new round of planning for the Western Development Strategy is being formulated. In the next decade, the central government will continue to increase its investment in the western region.
It is reported that in the new round of planning, the measures that directly benefit the western region are to reduce the corporate income tax rate by 15% for enterprises in industries encouraged by the state in the western region, and to change the collection of resource taxes such as coal, crude oil, and natural gas from quantity based to price based.
Experts point out that with the support of policies and funds, the comprehensive economic strength of the western region is expected to reach a new level, and a new "national important energy base, resource deep processing base, equipment manufacturing base, and strategic emerging industry base" will emerge in the western region. The future development of the western region will play a more prominent role in driving national economic growth.
Infrastructure construction will still be a key investment focus
It is reported that in the next decade, the western region will continue to focus on cultivating characteristic advantageous industries, vigorously developing agriculture, animal husbandry, modern industry, and service industries, accelerating the construction of a modern industrial system, and transforming the resource advantages of the western region into economic advantages.
In addition, according to the target requirements, the western region will also vigorously promote the transformation of economic development mode and economic structural adjustment, vigorously develop characteristic advantageous industries, deeply implement market-oriented advantageous resource transformation strategies, promote independent innovation, and strive to form a new pattern of coordinated development of traditional advantageous industries, strategic emerging industries, and modern service industries.
In future investment plans, the country will continue to arrange the construction of key projects, including highways, railways, airports, water conservancy projects, as well as new power generation installations. Industry experts have commented that infrastructure investment is of great significance to the western region. The current western region, such as Xinjiang, contains a large amount of resources, but transportation bottlenecks restrict the development and utilization of energy in the area. Even if companies build factories locally now, it is still difficult to effectively solve the problem of long-distance transportation. The expert pointed out that how to solve the transportation problem in the future will be the key to achieving advantageous development in Xinjiang and even the western region.
Key words: planning,formulated
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