Guiyang issues policies to help firms tackle difficulties

The Guiyang municipal bureau of industry and information technology issued a work plan to reduce the pressure of power consumption costs on industrial enterprises and provide special subsidies to enterprises on Feb 19, according to local officials.

They said the aim was to help companies overcome difficulties and promote the balanced growth of the city's industrial economy, amid challenges posed by the novel coronavirus outbreak which has delayed firms returning to full production, leading to falls in earnings.

Industrial enterprises affected by the epidemic may, from February to March, apply to the local power supply department for changes in electricity use and deferred payment of electricity fees, according to the work plan.

The city will grant certain subsidies to enterprises that have made outstanding contributions to epidemic prevention and control.

These will focus on supporting manufacturing enterprises involving medicines, medical devices and health protection, as well as daily necessities processing enterprises involving grain, edible oil, meat, vegetables, eggs, seafood and animal feed.

Officials said the industry departments of districts, counties and development zones may organize qualified enterprises to choose one of three types of subsidies: a production subsidy, project investment subsidy or discounted loan interest payments.

Officials added that Guiyang has arranged 100 million yuan ($14.26 million) in municipal funds to go to the refinancing of micro, small and medium-sized enterprises.

They said the authorities will encourage and support financial institutions and local commercial banks to actively help resolve challenges currently being faced by manufacturers and other businesses.

Enterprises meeting application requirements in the city can apply to Guiyang Industrial and Commercial Industry Investment Group Co or the Guiyang Rural Commercial Bank and the Bank of Guiyang, as well as apply online through Guiyang Private Economy Service Platform.