Enterprises in east China’s Jiangsu province are confident in their ability to minimize the impact on its economy by the novel coronavirus epidemic as regional governments have announced measures including financial support and tax cuts to help small and medium-sized firms affected by the coronavirus epidemic.
The State-owned Assets Supervision and Administration Commission of Jiangsu Province has called for provincial SOEs and their controlling companies to make the workshops, stores and office buildings rent-free for one month to three months if the micro and small firms or self-employed businesses encounter difficulties before or after production resumption.
The State-owned Assets Supervision and Administration authorities in Wuxi, Suzhou and Nantong have followed the instructions to ask the municipal level SOEs to reduce the rent for the tenant.
In the meantime, Jiangsu has made unremitting efforts to support and guarantee local enterprises to resume production amid the novel coronavirus epidemic outbreak.
In order to reduce the cost for enterprises, State Grid Jiangsu Electric Power quickly handled the suspension of electricity use for more than 6,000 enterprises. The move is expected to save nearly 10 million yuan of cost for the enterprises.
Various parts of Jiangsu have also released favorable policies for the enterprises in accordance with local conditions.
The city of Suzhou, for example, has announced measures including financial support and tax cuts to help small and medium-sized firms affected by the coronavirus epidemic.
Banking institutions are required to step up financial support for small and micro enterprises to guarantee bank loans, according to the circular released on late Feb 2 by the city government.
The outstanding balance of loans to small and micro companies in 2020 shall be no less than that of the same period in 2019, and the companies' financing costs shall be no more than last year's levels, the circular said.
Companies that do not lay off employees can get a refund of 50 percent of the actual unemployment insurance premiums they paid last year. For those facing temporary production and operation difficulties, insurance premiums can be deferred up to six months, it said.
Small and medium-sized enterprises affected by the epidemic outbreak can also have their housing rent exempted or reduced.
（source：ourjiangsu.com）
