Core Viewpoint - The article discusses the implementation of the Farmland Occupation Tax Law in China, which took effect on September 1, 2019, aimed at regulating land use and protecting arable land. It outlines the tax obligations for individuals and entities occupying farmland for non-agricultural construction and details the tax reduction policies applicable to certain transportation infrastructure projects [1][5]. Tax Reduction Policies - The article specifies that certain transportation facilities, such as railway lines, highways, airports, ports, and waterways, can enjoy reduced farmland occupation tax rates. For example, the tax is reduced to 2 yuan per square meter for eligible projects [1][2]. - The tax reduction applies to specific types of infrastructure, including: - Railway lines limited to approved constructions like roadbeds and bridges [2] - Highways that include various classifications such as national and provincial roads [2] - Airports designated for civil aviation [2] - Ports for ship docking and cargo handling [2] - Waterways for safe navigation [2] - Water conservancy projects approved by local authorities [2] Application Process - Taxpayers are responsible for self-assessing their eligibility for tax reductions and must submit applications to enjoy these benefits. They are also required to retain relevant documentation for verification [3]. Change of Land Use - If a taxpayer changes the use of the land from a reduced or exempt status, they must pay the applicable farmland occupation tax based on the local tax rate. The obligation to pay arises on the day the use is changed, with a 30-day window to report and pay the tax [4]. Policy References - The article cites several official documents that provide the legal framework for the Farmland Occupation Tax Law and its implementation, including announcements from various government departments [5].

General Provisions - The company is established to protect the rights and interests of shareholders, employees, and creditors, in accordance with relevant laws and regulations [2][3] - The company is a joint-stock limited company approved by the State Council and registered in Beijing, with a unified social credit code [3] - The registered capital of the company is RMB 16,278,611,425 [3][6] Business Objectives and Scope - The company's business objective is to serve the transportation construction industry with integrity, quality returns, and continuous improvement, aiming to become a globally competitive enterprise [5][6] - The company is engaged in various construction projects, including ports, highways, bridges, and engineering consulting [6] Shares - The company's shares are issued in the form of stocks, with equal rights for each share of the same category [7][8] - The total number of shares issued by the company is 16,278,611,425, all of which are ordinary shares [8][9] - The company can issue preferred shares, which have priority in profit distribution but limited rights in decision-making [7][8] Shareholder Rights and Responsibilities - Shareholders have rights to dividends, attend meetings, supervise operations, and transfer shares [16][17] - Shareholders must comply with laws and the company's articles of association, and they are liable for the company's debts only to the extent of their shareholdings [10][22] Shareholder Meetings - The company holds annual and temporary shareholder meetings, with specific procedures for calling and conducting these meetings [26][28] - Shareholders holding more than 10% of shares can request a temporary meeting [28][29] - The company must provide legal opinions on the meeting's compliance with laws and regulations [31][32] Corporate Governance - The board of directors is responsible for the company's management and must act in the best interests of the company and its shareholders [20][21] - The company has established an audit and risk committee to oversee compliance and risk management [20][21] Financial Assistance and Guarantees - The company can provide financial assistance for acquiring its shares, but the total amount cannot exceed 10% of the issued capital [9][10] - Any external guarantees exceeding certain thresholds must be approved by the shareholders [25]

Core Viewpoint - The transportation infrastructure industry is a fundamental and strategic sector in China's economy, playing a crucial role in national development and social progress [2][3]. Group 1: Current Status of Transportation Infrastructure - Transportation infrastructure is defined as fixed engineering facilities that provide transportation services for residents and goods, including roads, railways, bridges, tunnels, airports, ports, and urban transit systems [2]. - The construction of high-quality transportation infrastructure is essential for promoting high-quality economic development, with significant investments made in this area during the "13th Five-Year Plan" period, resulting in a comprehensive transportation network exceeding 6 million kilometers [2][3]. - In 2023, China's fixed asset investment in transportation reached 3.9142 trillion yuan, with a compound annual growth rate of 5.30% from 2011 to 2023 [3]. Group 2: Road Development Status - Road transportation is a vital component of the transportation system, with total investment in road construction increasing from 1.2596 trillion yuan in 2011 to 2.8240 trillion yuan in 2023, reflecting a compound annual growth rate of 6.96% [5][6]. - The total length of roads in China grew from 4.1064 million kilometers in 2011 to 5.4368 million kilometers in 2023, with expectations to reach 5.5 million kilometers by 2025 [6][8]. - The rapid development of road construction has alleviated transportation pressure and regional disparities, enhancing national competitiveness [8]. Group 3: Future Outlook and Investment Strategies - The transportation sector is expected to maintain a robust growth trajectory, with projections indicating that by 2030, road passenger traffic, freight volume, and other metrics will significantly increase, reaching 2.7 times, 2.2 times, and 3.2 times current levels, respectively [8]. - The government aims to enhance investment in transportation infrastructure through a combination of national, local, and social financing, focusing on major projects to support high-quality development [5][8]. - The ongoing construction of the national road network will expand coverage and create substantial market demand for related services and products [8].