Lin-gang releases measures to help ease burden on business
A wide view of the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone. [Photo by Liu Guoxing for CHINA DAILY]
The Lin-gang Special Area – located in East China's Shanghai city – released a dozen measures on May 5 to alleviate the burden on its businesses and to help them cope with operational difficulties brought about by the current COVID-19 outbreak.
The policies aim to support enterprises to fight the epidemic, ease their financial pressures, ramp up funding support, resolve any bottlenecks and operational issues and optimize government services.
It is estimated that nearly 80 million yuan ($12 million) in new funds will be invested to support the implementation of the policies.
Plans are for the area to provide employees working in retail, catering, tourism, hotels and cold chain enterprises with different subsidies. It will support businesses to conduct periodic nucleic acid tests, daily disinfections and to renovate facilities in high-risk closed areas.
During the current year, small and micro enterprises, as well as individual service businesses that rent State-owned housing, will be free from paying rent for six months. For those renting non-State-owned houses, subsidies may be given at the rate of 1 yuan per square meter, per day for three months.
Lin-gang will also get government financing guarantee institutions to provide increased credit support for qualifying companies. The scale of financing guarantee will be increased to 500 million yuan.
In addition, loan discounts will be given to small and micro enterprises, as well as to individual service businesses which are affected by the epidemic.
Special programs will be arranged and officials designated to deal with the difficulties encountered by enterprises in the process of production and operations, such as logistics transportation and staff arrivals.
Policies also include those to attract talent and encourage vocational training.
Online platforms to help resume work and production will be set up to provide effective services. Lin-gang will also compile guides to advise on resuming production and establishing emergency legal service mechanisms.
Address No 200 Shengang Avenue, Pudong New Area, Shanghai, China
Zip Code 201306