Guiyang, Guian take measures to stabilize enterprise development

Guiyang and Guian New Area in Southwest China's Guizhou province released 16 measures to support the stable development of enterprises.

According to the measures, Guiyang and Guian will issue 30 million yuan ($4.63 million) to business owners involved in vegetable planting, grain production, agricultural product processing, cold chain logistics and fisheries.

Guiyang and Guian are encouraging enterprises to increase production capacity and improve economic benefits. For working capital loans of enterprises' newly-added output value, Guiyang and Guian will offer a one-time interest subsidy of up to 3 million yuan for up to a year.

Enterprises involved in industrial engineering, building, services, wholesale, retail, accommodation, and catering, and that have been included in Guiyang and Guian's key enterprise catalog, will receive up to 2 million yuan in awards per quarter based on their contribution to social and economic development.

Guiyang and Guian will keep injecting capital into the emergency capital pool for micro, small and medium-sized enterprises to help them refinance. The emergency capital pool can reduce enterprises' financing costs and prevent capital chain breaks.

Each enterprise or project that is growing rapidly, has advanced technology and has huge market potential will receive up to 20 million yuan in investment.

Small and low-profit enterprises, as well as individual businesses, will enjoy income tax discounts on taxable income of up to 1 million yuan. Meanwhile, small-scale taxpayers with monthly sales volumes under 150,000 yuan will be exempt from added-value tax.

Enterprises that have been severely affected by the COVID-19 pandemic can apply to decrease the deposit ratio of housing provident funds or suspend the deposits for up to a year.

The 16 measures also make stipulations on preferential interest on loans, reducing electricity fares, and saving on entrepreneurship and innovation costs for enterprises.