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Updated: 2020-02-28 Weibo Weixin Qzone Facebook Twitter More

In a bid to promote the stable development of local enterprises amid the current novel coronavirus pneumonia epidemic, East Lake High-tech Development Zone has taken decisive action, officials said.

Also known as Optics Valley of China and located in Wuhan -- capital city of Central China's Hubei province and epicenter of the epidemic -- the zone has released series of support measures.

According to a Feb 25 statement on the WeChat public account, there are 22 policies formulated by Optics Valley to support the steady and healthy development of enterprises.

They cover five aspects: reducing the burden of enterprises, strengthening financial support, enhancing innovation support, enhancing supports for employees and optimizing the zone's services for its resident enterprises.

Zone officials said the series of policies is valid until Dec 31, 2020.

At the same time, the establishment took place of 'anti-epidemic fund' to support the development of enterprises by comprehensive financial means. That initiative was jointly undertaken by Optics Valley, the Bank of China and Hubei Provincial High Technology Industry Investment Co Ltd.

The following is an outline of the 22 policies formulated by Optics Valley:

To reduce the burden on enterprises:

1. Help reduce production costs.

2. Reduce or remit property rentals.

3. Reduce or remit selected taxation.

4. Extension of tax payments.

To strengthen financial support:

1. Help enterprises stabilize their cash flows.

2. Solve the financing difficulties of enterprises.

3. Provide interest subsidies for company financing.

4. Help enterprises broadening direct financing channels and innovate finance modes

To strengthen support for innovation:

1. Support enterprises to carry out scientific and technological research, related to epidemic prevention and control

2. Grant subsidies to enterprises that produce materials in short supply for epidemic prevention and control, through technological transformation and other means

3. Promote rapid review and approval of innovative products for epidemic prevention and control

4. Support the application of new technologies and products for epidemic prevention and control

To enhance support for employees:

1. Increase social insurance support

2. Delay payment of social insurance premiums and housing funds

3. Refund unemployment insurance premiums

4. Implement flexible employment policies

5. Increase employment subsidies

6. Strengthen the guarantee of employment demand for enterprises 

To optimize the zone's services for enterprises:

1. Implement policies to support the development of SMEs

2. Clear up the arrears of enterprises

3. Strengthen legal service guarantees for enterprise

4. Optimize government services

 

The policies' English version is only for reference. To learn more, please refer to the authoritative Chinese version on http://www.wehdz.gov.cn