BEIJING, Aug. 8 (Xinhua) -- More industrial companies in China have received government support, an official survey showed on Tuesday.
In the survey of over 90,000 industrial companies with annual revenue over 20 million yuan (about 3 million U.S. dollars), the National Bureau of Statistics (NBS) found 36.3 percent had received government support in the second quarter of this year, up 0.9 percentage points from the first quarter and an increase of 10.6 percentage points from the end of 2016.
Among the 34,000, 51.3 percent reported that they had profited from support for innovation, up 5.3 percentage points from the end of 2016.
Around 44.6 percent paid less taxes and fees, up 1.1 percentage points from the end of 2016.
Small firms are major beneficiaries of tax and fee reductions, the NBS noted, as 47 percent of the small companies that claimed government support said they paid less tax, 1.7 percentage points higher than last quarter.
The central government has pledged to reduce corporate costs by 1 trillion yuan this year through measures including tax and fee cuts.
The NBS said the government should now increase support to reduce production costs, widen financing channels and simplify approval procedures. Enditem