East China’s Jiangsu province has unveiled 42 pro-active financial policies to spur economic recovery by increasing fiscal and tax support for enterprises, and reducing the burden of enterprises. Let’s take a close look.
According to pro-active policies, in support of continuous production of enterprises, Jiangsu has paid 313 million yuan of overtime allowance to 52 thousand enterprises operating during the Spring Festival. This year, more than 50000 urban and rural public welfare jobs will be created.
In order to speed up the resumption of work after the Spring Festival, Jiangsu encouraged local governments to give appropriate subsidies to enterprises that charter vehicles to transport employees back to work during the period between January 25 and February 5.
Jiangsu will give transportation subsidies to those who worked in Jiangsu for the first time and signed labor contracts before the end of February this year.
Xia Wenzhe, Director of Jiangsu Vocational Introduction Center
In terms of reducing the corporate burden, Jiangsu will help enterprises reduce the cost of utilities and institutional costs, and reduce the default penalty for arrears.
At the same time, Jiangsu will require the government departments to strengthen services, launch the list of legal services related to enterprises as soon as possible, and accelerate the promotion of the legal system of private enterprises.
Jiangsu will carry out inclusive and prudent supervision on new technologies, new industries, new forms of business and new models, and guide and help market entities that break their trust due to non-subjective reasons or force majeure to rebuild their credit as soon as possible.
Zhang Jing, Second-level researcher of the Credit and Risk Supervision Bureau of Jiangsu Provincial Market Supervision Bureau
