RELIEF MEASURES

The General Office of the State Council’s Leading Group on the Development of Small and Medium-sized Enterprises recently announced 10 measures to support micro, small and medium-sized enterprises facing difficulties. These include the introduction of special relief funds and large state-owned commercial banks striving to grant RMB1,600 billion in new loans to micro and small enterprises in 2022. More

At the executive meeting held on 5 May, the State Council discussed further relief measures for micro, small and medium-sized enterprises and individually-owned businesses, such as tax rebates/reductions and fee cuts, the deferred payment of social insurance premiums, smooth logistics and aid for businesses to resume full-capacity operations. In the meantime, financial support will be stepped up and assistance will be given to foreign trade firms in responding to challenges. More

The Qianhai Authority recently released a package of relief measures for market entities hard-hit by Covid-19. The package consists of 22 measures, including actions to reduce rent, stabilise jobs and payrolls, strengthen financial relief and cut taxes to reduce operating costs. More

The provincial government of Guangdong recently rolled out 25 measures aimed at reducing production costs, increasing demand, providing broader financing support and promoting the healthy development of small and medium-sized enterprises (SMEs) and individually-owned businesses. The measures are intended to be valid until 31 December 2023. More