With the phased success of COVID-19 pandemic prevention and control, in order to enable resident enterprises to reach their full production capacity, the Guiyang Economic and Technological Zone (GETDZ) has taken the initiative, in an innovative way.
The zone -- located in Guiyang, capital of Southwest China's Guizhou province -- has optimized various government services, made full use of its polices, and cashed in various financial rewards, subsidies and financial support, to promote the development of companies.
The district has continued to consolidate and implement its tax and fee reduction policies.
At the end of September, new policies had been implemented to reduce taxes and fees totaling 146 million yuan ($21.72 million).
In addition, the zone has exempted enterprises' social insurance premiums totaling 198 million yuan -- effectively alleviating corporate pressure and enhancing their development potential.
By the end of September -- in line with the 10 fiscal and tax policies issued by the zone -- it had issued a total of 13.94 million yuan in support funds.
This had benefitted 95 enterprises, increasing support for micro, small and medium-sized enterprises, strengthening the confidence of businesses about their future development and helping them tide over their difficulties.
In combination with the improving situation as things get back to normal, the zone has allocated 34.95 million yuan from its special anti-epidemic treasury bond account and applied it to support various market entities.
By the end of September, 18.81 million yuan had been spent on supporting some 92 enterprises.
As of the end of September, the one-stop financial services platform set up by the zone had successfully helped 44 micro, small and medium-sized enterprises obtain debt financing of 160 million yuan and another enterprise get equity financing of 10 million yuan.
At present, the platform has launched three new policy products, together with support policies, to discount interest rates and premium rates, so as to provide more low-cost financial products for the development of the three categories of businesses.
In addition, the zone has also actively used its financial leverage to establish pools of industry funds. It plans to set up three types of industry support fund groups step-by-step, with a total scale of 4.5 billion yuan.
Of these, an angel fund has been set up and has already established its conditions for investment. And the fund is expected to allocate 20 million yuan towards seven projects this year.