Guiyang National High-tech Industrial Development Zone (Guiyang HIDZ) in Guiyang, capital city of Southwest China's Guizhou province, drew down on 29.28 million yuan ($41.53 million) in support funds on March 17 to help resident businesses to recover and develop, according to Guiyang HIDZ officials.
They said the draw down was in line with city-level and zone-level policies.
The latest move follows the issuing by the zone of 15 measures to help companies return to production and continue to develop.
Officials said that in addition to the total grant of 29.28 million yuan that will go to 17 companies, the zone has also organized 13 enterprises to apply for the special subsidies from the municipal bureau of industry and information technology.
It has also recommended that four companies apply for 13.5 million-yuan loan transfer emergency fund and recommended four enterprises apply for 220 million-yuan equity investment fund.
At the same time, the zone has also guided 46 companies to apply for insurance, sought out partners for 23 large-scale manufacturers with financing needs to solve their financing problems and helped other companies solve capital problems in a timely manner.
Officials said that during the epidemic prevention and control, the zone also asked for 35.27 million yuan in provincial and municipal scientific and technological support for alleviate financial pressures on resident companies.
What’s more, the zone organized for 44 resident companies to go to Nayong county, held a special jobs fair to promote the county’s employment and assisted enterprises to resume work and offered 1,425 job positions.