[Photo/IC]
Zibo city – located in East China's Shandong province – recently launched a raft of policies and preferential measures to support the high-quality development of its micro, small and medium-sized enterprises or MSMEs, as well as individual businesses.
They include 10 specific articles: to grant rent relief loans, to reduce the pressure on paying social security contributions, to reduce tax fees, to stabilize electric power prices, to ensure the normal operations of businesses with arrears, to expand channels for financing, to increase guaranteed loans for start-ups, to encourage technological innovation, to develop new business modes and to support MSMEs in participating in government procurements.
For eligible business entity shop operators who rent non-State-owned properties, a one-year shop rental loan of less than 10,000 yuan ($1,498) will be provided for each premises.
Qishang Bank opened a fast-track channel to support the policy on May 5. The deadline for an application is June 30.
Support for an enterprise's social security benefits will be increased by reducing and deferring social security premiums.
In addition, enterprises can request a reduction in the proportion of their housing accumulation fund deposit or a payment delay – and then restore the proportion of their housing accumulation fund deposit and pay it in full once their business conditions improve.
From May 1 to Dec 31, the income of taxpayers that provide express delivery services for residents to receive and distribute essential goods for daily use shall be exempt from value-added tax.
Furthermore, Zibo will launch trials concerning insurance for entrepreneurship and innovation. Subsidies shall be provided for entrepreneurship and innovation insurance premiums.
A maximum subsidy of 100,000 yuan will be given as one-time subsidies of 100 percent of the premiums to high-level talent at the provincial level and above.
*This English version consists of excerpts and is only for reference. To learn more, please refer to the authoritative Chinese version.
