East China's Shandong province rolled out a specific policy on April 2 to shore up the confidence of its culture and tourism market operators and workers who have been hit hard by the COVID-19 epidemic.

The policy presented five specific measures to assist culture and tourism operators and staff, including guidelines pertaining to travel service deposits, which encourages travel agencies to expand their business scope, and promotes the development of the homestay industry, as well as provides financial support to culture and tourism enterprises.

Financial institutions are urged to cooperate with tour companies to channel more investment into A-rated attractions, resorts and hotels with good development prospects, and offer more flexible credit lines.

The province will continue to refund travel agencies for 80 percent of their travel service deposits, which can be used to reimburse clients if an agency violates national regulations, for example.

Shandong will maintain the service sector tax deduction, as well as lower or eliminate six local taxes and two fees for all low-profit small businesses and self-employed households. In Shandong, enterprises will be exempt from house property taxes and municipal and town land use taxes.

This year, six months of rent will be waived for micro and small businesses and self-employed households in the service industry renting State-owned property in high or medium COVID-risk areas, while three months will be waived for those in other areas.

Despite tough times, tour company operators said that they are optimistic about the market's future recovery and development, and that they are looking forward to the benefits the supportive policy will bring.

Shandong releases a wide range of innovative measures to spur the high-quality development of its culture and tourism sector. [Photo/WeChat account: ytwlgw]