Qingzhen gives policy support for stable SME development

Qingzhen city, a county-level city in Southwest China's Guizhou province, recently issued a series of policies and measures to help small and medium-sized enterprises (SMEs) get through the ongoing novel coronavirus pneumonia epidemic prevention and control period when their business might be affected, according to the local government.

According to the circular released by the government, the beneficiaries are SMEs that have registered in Qingzhen and paid taxes for two consecutive years and self-employed industrial and commercial businesses above a designated size, which refers to those with annual revenue of 20 million yuan ($2.86 million) or more. 

Officials said the city has implemented policies for tax reductions and exemptions and deferred tax declarations. In addition, the city has arranged a special subsidy of 10 million yuan ($1.44 million) to support production. 

Meanwhile, a special fund of 10 million yuan will be used in reducing the burden on SMEs rent, energy utilization and taxi contract costs, to help them reduce operating costs during the epidemic. The city also has cashed in 10 million yuan of support funds for enterprises in advance. 

Moreover, subsidies of 1 million yuan are being arranged for supermarkets, agricultural product markets, daily necessity wholesale markets and logistics companies operating during the epidemic prevention and control period, with each offered 2,000 to 10,000 yuan. 

Additionally, Qingzhen has increased financial support and provided discount subsidies and financing guarantees in accordance with relevant policies. Meanwhile, the city has deferred SMEs' payment of social insurance.