Guangdong province on February 6 has rolled out a series of measures to help enterprises better resume production and reduce the impact of the ongoing coronavirus epidemic. The measures have already taken effect and will be kept in place for three months, bolstering the confidence of companies.
These supportive measures include rental reductions or exemptions and other forms of financial aid. A special policy has been formulated to help enterprises solve the problem of purchasing masks, protective suits, disinfectant and thermometers.
For enterprises that cannot afford to pay the premiums of social security insurance in time due to the epidemic, catch-up payments are permitted. Qualified enterprises can seek a three-month extension of tax payment, and those having payment difficulties can receive a reduction on property tax and urban land use tax in accordance with the law.
State-owned enterprises are required to exempt private enterprises from housing rent for one to two months if the firms can't operate normally because of the epidemic.
Banks and financial institutions also are encouraged to support enterprises that are greatly affected by the epidemic by permitting extensions on loan repayment, lowering interest rates, and reducing or waiving required interest.