Huai'an City issued 13 measures on February 7 to support small and medium-sized enterprises affected by the outbreak of the novel coronavirus pneumonia (NCP).

Those measures mainly cover four aspects – more financial support, cut of tax and fee for companies, strengthened efforts to keep jobs stable, and other incentives.

Banks are not allowed to withdraw or reduce their loans to companies in service industry badly hit by the outbreak, especially the SMEs and micro firms. Companies that have difficulties in pay off the debt should be allowed to delay the payment or renew the loan.

SMEs faced with actual difficulties can be allowed to defer the payment of old-age, unemployment and work-related injury insurances premiums, for 6 months at most.

Start-ups and entrepreneurship teams based in the government-run business incubators and zones will enjoy an exemption of rent for one month plus half of the rent for the second and third month.

Companies that don’t lay off workers or have a limited job cut can get a refund of 50 percent of the already paid social insurance premiums. For enterprises included in the city-level scheme to ensure supply of anti-NCP materials, they can get a subsidy of 30 percent of new investment for equipment if the purpose is to boost production capacity and undertake technical transformation to control the outbreak. For loans that went into effect after January 1, companies can get the subsidy of 50 percent of the interest incurred in one year. Meanwhile, companies are provided with the subsidy of 30 percent of the cost of utilities during the period to prevent and control the outbreak of the novel coronavirus pneumonia.

Contact us at english@jschina.com.cn