Huaxi district ups efforts to support business development

In order to support the stable development of enterprises during the epidemic prevention and control period, Huaxi district in Guiyang, capital city of Southwest China's Guizhou province, recently issued a series of work plans and detailed rules.

Various special funds are arranged at the district level to help finance the return to production and subsequent development of businesses, according to local officials.

A special fund of 6 million yuan ($862,000) for industrial development and park construction in the district has also been arranged, to provide subsidies to manufacturers to ensure supplies and that they resume production.

In terms of financial support, the district has introduced measures to encourage financial institutions to increase their support for micro, small, and medium-sized enterprises.

It has coordinated with financial institutions to help meet the financial needs of enterprises through online consultations and remote services.

To date, it has helped companies obtain loans of 401 million yuan ($57.65 million) through government-enterprise-bank cooperation.

In addition, it has accumulatively applied for the holdover payments on social insurance charges for 202 enterprises.

Furthermore, a subsidy of 108,800 yuan for employment of poverty-stricken labor and 600,000 yuan in business guaranteed loans were distributed.