The General Office of the Changsha Municipal People's Government has recently issued the Implementation Opinions on Further Reducing the Impact of the COVID-19 Epidemic and Stabilizing Economic Operations. It provides policy support in 22 aspects, including reducing the burden on enterprises, providing financial support, strengthening competitive industries, stabilizing agricultural production, expanding investment, and advancing project construction. It is valid until June 30, 2022.

The document focuses on the pain points and difficulties of market entities such as micro, small and medium-sized enterprises and individual businesses, and aims to provide targeted support to them, and reduce the impact of the epidemic on current and long-term development.

For example, regarding effectively reducing the burden on enterprises, bid and performance bonds and fees for procurement documents for government procurement projects are waived. The state-owned enterprises shall be paid on time and in full as agreed in the contract, and no additional overdue payments shall be incurred.

To address the problem of difficult and expensive financing for enterprises, relevant financial institutions are encouraged to appropriately lower the loan interest rate for epidemic-affected enterprises, issue special loans with discounted interests to help them tide over the difficulties, and set up special subsidized funds in accordance with the law.

In terms of key support to key enterprises and small and medium-sized enterprises, a loan list management system will be implemented for industry backbone enterprises, reserve enterprises for listing, outstanding small and medium-sized enterprises, and key enterprises of daily necessities. Multiple ways will be adopted to increase the share of small and medium-sized enterprises in the government procurement.

In terms of expanding effective investment and promoting the construction of major projects, the planning of major projects’ investment in 2022 will be started ahead of schedule. The application work for projects included in the government budget and projects supported by government special funds will also begin in an early manner. Projects supported by local government special bonds will be promoted to deliver real results by the first quarter of 2022. Targeted assistance will be provided to projects. Major projects will be given priority in allocating land use quotas, construction funds, and other factors and resources.

Support will also be given to the cultural and tourism industry, which is most affected by the epidemic. Epidemic-affected cultural tourism enterprises with difficulties in paying real estate tax and urban land use tax can apply to the tax authorities for reduction or exemption, and those with difficulties in paying housing provident fund can apply for delayed payment. Special funds will be arranged to support the resumption of work and production in the cultural and tourism industry.

Source: en.changsha.gov.cn