The city of Baotou – located in North China's Inner Mongolia autonomous region – rolled out a raft of tax rebates in the first half of the year, which are widely viewed to have stimulated its businesses.

As of end-May, Baotou had provided 3.07 billion yuan ($454.57 million) in combined tax and grants to various business entities – ranging from sole traders to partnerships and companies – and the annual levels of tax reductions and tax rebates were projected at 6.33 billion yuan.

Since the implementation of the policy during the current year, the autonomous region government has allocated a total of 1.3 billion yuan of special funds for the implementation of tax reductions and fee reductions to boost people's lives in Baotou.

The impact of the initiative is said to be spreading, galvanizing small and medium-sized enterprises in the city and relieving financial pressures at the grassroots level.

Moving forwards, plans are for Baotou in the second half of the year to continue to implement various tax rebate policies, make good use of special funds and various financial transfer payment funds.