Sentiment has largely been cautious and there has not been much room for investors to leverage their holdings," said Shen Meng, director of boutique investment bank Chanson & Co. Shen said that Xiaomi's plans to defer the CDR issue will not have any long-term impact or determine the course of its HK float.

The country could also provide more financial subsidies to reduce tax burdens on enterprises, and further reduce and exempt value-added taxes and income taxes for SMEs, while entitling them to defer or reduce social insurance premium payments.

On top of these inclusive tax and fee incentives, an executive meeting of China's State Council last week decided to temporarily defer payments of certain government-levied charges and deposits to further ease the burden on market entities, especially micro, small and medium-sized enterprises, self-employed households and manufacturing firms.

China will allow market entities to defer payments of certain government-levied charges to further reduce financial burdens, and offer tax concessions for private pension schemes, according to a State Council executive meeting.

Those workers, who come from 23,000 enterprises, are allowed to defer contributions of roughly 7.1 billion yuan ($ 1.1 billion), said ministry spokesman Wang Shengjun at a news conference on Thursday.

The country will also allow medium, small and micro enterprises to defer payments of their contributions to the basic medical insurance, launch initiatives to end unjustified charges levied on businesses, and postpone payments for government administrative charges, it said.

"For the catering, retail, tourism, civil aviation, highway, waterway and railway transportation industries, the policy to defer payments of old-age insurance premiums will be implemented during the second quarter of this year.

Small and medium-sized enterprises in the manufacturing sector are permitted to defer certain tax payments for the fourth quarter, while small and micro enterprises severely impacted by the pandemic, floods and raw material price hikes can receive more lending support.

China will defer tax payment for small and medium-sized enterprises (SMEs) in the manufacturing sector to ease the impact of rising costs, a State Council executive meeting decided on Wednesday.

The decision would in effect defer around 200 billion yuan ($31.32 billion) of tax payment for manufacturing SMEs, the meeting said.

The meeting also decided to defer tax payment of around 17 billion yuan for coal-fired power companies and heating firms to ease their operating difficulties.

"The tariffs forced American companies to accept lower profit margins, cut wages and jobs for US workers, defer potential wage hikes or expansions, and raise prices for American consumers or companies," analysts at Brookings Institution were quoted as saying.

Those tools were the loan extension which encourages local banks－urban and rural commercial banks and rural credit cooperatives－to provisionally defer smaller businesses' inclusive loan repayments with incentives in place, and inclusive credit loans which provide local banks with concessional funding support.

During the first 10 months of this year, China's financial system has helped firms save a total of 1.25 trillion yuan ($188.8 billion) through cuts in interest rates and bank charges, allowing qualified micro, small and medium-sized enterprises to defer payment on loan principal and interest.

China will start to implement mandatory certification for lithium-ion battery products starting from August 1 this year, despite calls from South Korea to defer such applications for South Korean companies.

In addition, the bank will continue to allow customers with COVID-19-related repayment difficulties to defer repayments on mortgage loan principal and interest, Yao said at a news conference announcing the bank's 2022 interim results on Tuesday.

But thanks to the favorable tax treatment for manufacturing enterprises, Li's company has so far been allowed to defer the payment of taxes worth 1.52 million yuan (about $229,687), which mobilized capital and supported production activities.

According to a recent report from market research company Strategy Analytics, nearly 37 percent of the over 1,300 respondents it surveyed said they would defer plans to buy new smartphones, while 32 percent indicated they would postpone plans to upgrade to 5G services.

They can also apply to defer repayment of the loan principal for a year without penalties or compound interest, Assistant Finance Minister Ou Wenhan said on Friday.

The country has allowed micro, small and medium-sized enterprises and self-employed households in the manufacturing sector to defer the payment of certain taxes and fees worth around 440 billion yuan till the end of the year.

For homebuyers who have difficulty in repaying mortgage loans and suffer protracted delays in the delivery of presold homes, banks could allow them to defer principal and interest repayments.

However, China has ramped up policies to defer tax payments for micro, small and medium-sized enterprises, which help them maintain a relatively healthy balance sheet.

BOC will continue to give financial support to companies facing temporary operational challenges due to COVID-19, strengthen services to safeguard people's livelihoods, make flexible adjustments to repayment arrangements for mortgage loans, and defer repayments on loan principal and interest for eligible market entities and individual clients.

A recent State-level notice stated that in addition to the five sectors — catering, retailing, tourism and transportation — that have been hardest hit, companies in 12 other sectors will also be allowed to defer pension insurance payments until the end of this year.

Small and medium-sized companies and individual businesses that have experienced difficulties because of the epidemic can also apply to defer insurance payments until the end of this year without incurring charges.

The notice further stipulated that companies applying to defer insurance payments must ensure that workers' rights are respected.

For COVID-19-hit sectors, the CBIRC will require banks to renew loans or defer repayments without penalties for eligible small businesses, and adjust car loan or mortgage repayment schedules in favor of truck drivers.

Some national joint-stock commercial lenders, such as China Zheshang Bank Co Ltd based in Hangzhou, Zhejiang province, even allowed personal clients to defer consumer loan and credit card payments, in addition to mortgage payments.

Announced by the State Council in late October, such policies entitle small and medium-sized companies in the manufacturing sector to defer tax payments to ease the impact of rising commodity costs.

"This will allow us to defer tax payments of about 100,000 yuan, and we will invest this money in research and development for the fourth quarter," Xia said.

A State Council executive meeting on Oct 27 decided to defer tax payment for small and medium-sized enterprises, especially in the manufacturing sector, aiming to ease the impact of a rise in material prices, according to a statement from the meeting.

It would defer around 200 billion yuan of tax payments for small and medium-sized enterprises in the manufacturing industry, the statement said.

Moreover, the State Council executive meeting on March 24 announced that the policy to defer repayment of principal and interest on inclusive loans granted to micro and small businesses will be extended till the end of this year.

China has rolled out a set of measures to help small and micro businesses overcome difficulties caused by COVID-19, including encouraging financial institutions to provisionally defer loan repayments and increasing lending at concessional rates.

The PBOC devised two credit instruments in early June, the loan extension support tool, which aims to encourage banks to defer businesses' inclusive loan repayments, and the credit loan support tool, which is designed to step up loan issuances.

The People's Bank of China (PBOC), China's central bank, devised two credit instruments in early June: the loan extension support tool which aims to encourage banks to defer businesses' inclusive loan repayments and the credit loan support tool which is designed to step up loan issuance.

To help enterprises tide over difficulties and secure employment amid the epidemic, the central bank introduced the loan extension support tool, which offers local banks incentives in an effort to encourage them to defer businesses' inclusive loan repayment with penalty exempted for a certain period.

It also introduced two new structural facilities in June－one is to defer the repayment of loans' principal and interest and the other is to purchase small business credit loans, to ensure market entities can receive sufficient funds.

Due to the COVID-19 pandemic, however, the revamping task, which entails debt repayment, has faced mounting difficulties partly because some businesses that have struggled to survive the contagion may need to defer repayment, the PBOC said.

The meeting also urged financial institutions to defer the principal, interest repayments on loans taken by micro, small and medium-sized enterprises.

The regulator said it will lead banking institutions to further defer repayments of loan principal and interest according to the trends of the pandemic and the state of operation of MSMEs, with a focus on helping small businesses with a total credit line of up to 10 million yuan per borrower.

China will defer income tax payments for small companies with thin profit margins, as well as individually-owned businesses, to help them resume business and production, said the State Taxation Administration.

In addition, companies can apply to defer payments to the housing provident fund, while those undergoing severe difficulties due to the epidemic are eligible for the deferral of the three types of social insurance payments for as long as six months.

Under the plan, individuals are allowed to defer tax on part of their income that is used to buy commercial pension insurance until they retire and draw money from the fund.

Dai said that this year, the government granted a temporary exemption on value-added tax payments to small taxpayers, including self-employed business owners, adding that they are also covered by policies that allow businesses to defer their social security contributions.