OUTDOOR SHOW: A woman sits inside a tent at the Asia Outdoor Trade Show 2013. The four-day show, opened in Nanjing, capital of east China's Jiangsu Province, on July 24, and attracted over 610 companies from 22 countries (SUN CAN)

Aiding Small Firms

China will suspend the value-added tax (VAT) and turnover tax for small businesses with monthly sales of less than 20,000 yuan ($3,226) starting from August 1, a move aimed at supporting the country's fledging small businesses amid an economic slowdown.

The move will benefit more than 6 million small companies and boost the employment and income for tens of millions of people, according to a statement from the State Council.

VAT refers to a tax levied on the difference between a commodity's price before taxes and its cost of production. Turnover tax refers to a levy on a business' gross revenues.

More efforts should be made to create a fair, open and convenient market environment, motivate market players and enhance construction in weak areas of the economy.

Investment Fair

The 17th China International Fair for Investment and Trade (CIFIT), themed on Reconstructing Global Value Chain and Innovation, will be held from September 8-11, in Xiamen, southeast China's Fujian Province.

The annual event has become a pivotal platform to promote a more efficient flow of global capital.

"CIFIT is an effective and globally influential platform to connect investors and potential investment projects," said MOFCOM spokesperson Shen Danyang. "It used to emphasize the introduction of foreign investment to China, while now it also focuses on booming outbound Chinese investment."

The U.S. embassy in China will hold an investment promotion activity named Invest in the United States at the 2013 CIFIT. South Africa will also set up its national pavilion to display the country's investment environment, host an investment matchmaking symposium and showcase its unique culture.