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Chongqing Issues 20 Measures to Support SMEs

By YULING CHENICHONGQING|Feb 05,2020

Chongqing– The General Office of the Chongqing Municipal People’s Government issued 20 measures on February 4 to support small- and medium-sized enterprises (SMEs) to overcome difficulties in fighting against the novel coronavirus, to give a full play of their role in the epidemic prevention and control.

printers-for-medical-use

Company employees in Chongqing produce printers for medical use. (Photo by Yang Ye)

These measures involve three aspects- further improve government services, lessen the burden on enterprises, and increase financial support. The implementation period of the measures is from its issuance to June 30, 2020.  If China has issued relevant support policies, it shall be implemented in compliance.

Further improve government services

1. Establish a green channel for project approval.

2. Open the green channels for material procurement.

3. Establish the green channel for import and export of epidemic prevention supplies.  For imported drugs and medical equipment used for epidemic prevention, control, and treatment, ensure “zero delays” in customs clearance. According to relevant national regulations, from January 1 to March 31, 2020, imported materials donated for epidemic prevention and control will be exempted from import duties, value-added import tax, and consumption tax.

4.Smooth the green channel for emergency materials transportation. Emergency production and living materials include critical supplies for epidemic prevention and control, as well as vegetables and food. The treatment and transportation of medical waste are ensured in emergency transportation.

5. Strengthen enterprise employment services. Implement flexible employment policies.

Further lessen the burden on enterprises

6. Reduce tax on SMEs affected by the epidemic situation.

7. Extend tax payment. For affected SMEs unable to file tax declarations on time, the extension on it will be granted according to law with a maximum period of no more than three months.

8. Postpone social insurance premiums. For enterprises affected by the epidemic, faced with temporary production and operation difficulties, and indeed unable to pay social insurance premiums in full, the collection period of endowment insurance, unemployment insurance and work injury insurance premiums payable in the first quarter of 2020 can be extended to the end of April. 

9. Assist enterprises and stabilize posts during the epidemic period.

10. Lighten the burden of housing provident fund deposits.

11. Reduce or exempt rents. During the epidemic, SMEs and micro-enterprises renting state-owned assets for the business operation will be reduced or exempted from 1 to 3 months’ rents. Large commercial buildings, shopping malls, and market operators are encouraged to reduce rents for the affected enterprises moderately.

12. Reduce the burden of electricity and gas for enterprises.

Further increase fund support

13. Ensure that the credit balance of small and micro enterprises does not decrease.

14. Increase tolerance for non-performing loans.

15. Increase low-cost fund input of financial policies.

16. Increase credit support.  Encourage banks to open green channels and reduce the time limit for loans.

17. Strengthen the service of local financial institutions.

18. Help to resolve the open-market risks of enterprises.

19.Support to reduce financing costs.

20. Support corporate technological innovation. Support universities, research institutes, and enterprises to carry out scientific and technical collaborations in the fields of treatment methods, drug development, detection technology, and medical equipment for the prevention and treatment of novel coronavirus.

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