Covid-19 has had a fundamental impact on China’s economy with many business sectors hit in several ways. To gain a better understanding of the current situation in all respective areas, the following translations outline measures taken by government in Jiangsu to help enterprises return to work.
Sample of Measures taken by Wuxi City
Increased Support for Credit Guarantee. For short-term goods trade insurance, or pre-export additional insurance insured by enterprises at their own expense during the period of WHO PHEIC Certification, a subsidy of up to 30% will be paid on actual premiums paid.
Increased Support for Participation of Exhibitions. If the enterprise is based in Wuxi City and is unable to participate in overseas exhibitions due to the pandemic, and if exhibition expenses were paid out before the epidemic response period, with the result in actual losses to the enterprise, subsidies not exceeding 50% of actual expenditures will be awarded. For enterprises of Wuxi City that went abroad to participate in various exhibitions that year, the proportion of booth fee support uniformly increased to no more than 80%. Online exhibitions have been organized to help companies expand their markets. Additional appropriate subsidies will be given to foreign trade enterprises that are affected by the epidemic and have difficulty in operating due to serious losses.
Increased Legal Aid. Legal aid has been expanded to help affected enterprises obtain factual evidence of the pandemic, to actively provide legal assistance to enterprises in pursuit of compensation for economic disputes and contract breaches resulting from the pandemic. Further aid is extended owing to factors such as force majeure and the occurrence of dishonest practices, including the incomplete filling of production orders and/or unsuccessful deliveries, and/or adoption of a convenient credit repair process to help combat the risk of dishonesty.
Nanjing Customs
Support of Jiangsu Food and Agricultural Products Enterprises to Expand Exports. As a chamber we will follow up with and help guide export food and agricultural products enterprises that have resumed production in a timely manner, including offering of assistance to enterprises in the improvement of self-inspection, control, and in opening foreign markets. As a chamber, we guide export food and agricultural products enterprises to properly respond to temporary restrictions imposed by foreign countries, thereby reducing export losses. Classification management, online reviews, and corporate commitments are used to implement supervisory services to ensure normal exports.
Increased Support for Tax Collection and Management. For imported protective clothing, medical goggles, negative pressure ambulances, related drugs, and other epidemic prevention and control materials, priority is given to tax exemption procedures. Active implementation of state tax reduction and preferential tax policies have been extended for imports, for the expansion of imports of high-end equipment, for key parts and components, and for important raw materials.
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