Xifeng's 'three approaches' ease firms' burden

In order to counteract the economic setbacks inflicted by the COVID 19 pandemic, Xifeng, a county in Guiyang, capital city of Southwest China's Guizhou province, has rolled out three measures aimed at boosting local industries and cultivating a better economic performance.

The county has delivered a policy that allows enterprises to reduce or postpone their social insurance payments, in order to enable them to stay afloat during times of difficulty. Xifeng cumulatively registered employment injury insurance fee cuts and reductions of 342,800 yuan ($51,420), endowment insurance fee cuts and reductions of 4.61 million yuan, and unemployment insurance fee cuts and reductions of 203,500 yuan during the first quarter of this year.

Enterprises have been encouraged and supported by the government to absorb more qualified college graduates. Any eligible small-, micro-sized firms, private enterprises or social groups that employ graduates will be granted social insurance subsidies. From January to March, Xifeng issued 160,600 yuan in subsidies.

The government has also prioritized assistance to business start-ups, with 1.85 million yuan in allowances given to 370 entrepreneurs, and 4.05 million yuan in rental subsidies allocated to 317 entrepreneurs.