Ningbo unveils measures to help enterprises weather COVID-19 outbreak

Ningbo in East China's Zhejiang province recently unveiled a raft of measures to mitigate the impact on companies caused by the recent COVID-19 epidemic.

The city will further slash taxes and fees on companies, reduce their utilities and labor costs, and allow them to defer the payment of medical insurance premium and housing provident fund for employees.

The local government will offer subsidies to cover part of enterprises' expenditures on epidemic control.

Ningbo also plans to issue coupons to spur consumption recovery in the city.

In addition, the city is poised to ramp up support for the service sector which has been hit hard by the sporadic outbreaks of COVID-19. Specifically, facility testing fees will be reduced for catering enterprises, and digital television services will be waived for hotels and homestays.

The city will also encourage local retailers to tap commercial livestreaming opportunities while increasing its financing support for micro, small and medium-sized foreign trade enterprises and the construction of overseas warehouses.

The government has also vowed to improve the implementation of these policies and has set a target of fulfilling the redemption of no fewer than 80 percent of these policies in the second quarter of this year.