Caixin
Mar 29, 2022 08:09 PM
ECONOMY

China Doles Out Support for Businesses Amid Worst Covid Outbreak Since 2020

Tax bureau staff inspect work in a factory workshop in Changzhou, East China’s Jiangsu province, in June 2021. Photo: VCG
Tax bureau staff inspect work in a factory workshop in Changzhou, East China’s Jiangsu province, in June 2021. Photo: VCG

Chinese cities affected by the recent Covid-19 outbreak — the most serious one since early 2020 — have rolled out policies, such as tax cuts and consumption vouchers, to cushion its impact on local businesses.

On Tuesday, Shanghai announced a bundle of policies to prop up businesses. The measures include tax and fee cuts, rent cuts for small businesses renting state-owned property, and credit support. Also included are measures that specifically target restaurants, retail businesses, travel agencies and tourist sites, the transportation sector, and companies in the exhibition industry.

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