Join Ezbuy
Exhibitor
Visitor
Join as Supplier
HPGLE.COM, the online B2B portal website of HOTEL&SHOP PLUS expo series, will meet the needs of different customer groups and diversified promotion events. We help suppliers shape their brand image more efficiently and capture business opportunities more accurately.

For more suppliers benefits, please contact us!

Ms Wu
Tel:+86 021 33392545
E-mail: Bella.Wu@informa.com

State Council unveils new measures to mitigate coronavirus impact on Chinese economy

Category:Industry Key Words:State Council Time:2020-03-24 10:57

  The State Council, China's cabinet, on Feb 25 unveiled a string of measures to facilitate the employment of college graduates and rural migrant workers, offer financial support to micro-, small- and medium-sized enterprises and solve the difficulties of self-employed persons to reduce the impact of the coronavirus epidemic on the economy.


  The country will expand the enrollment of postgraduate and degree top-up programs, create more jobs of medical and social services at the community-level and strengthen support for micro and small enterprises to recruit more college graduates, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang.


  Employment of rural migrant workers will be enhanced by creating more job opportunities at the laborers' hometowns or places nearby and approving a group of new projects providing a large number of posts. Key construction projects should prioritize poor laborers in recruitment.


  The meeting decided to step up financial support to get micro-, small- and medium-sized enterprises back on track on a market-oriented and law-based principle.


  Lenders are encouraged to roll over loans of cash-strained firms in Hubei province, the region hit the hardest by the epidemic, until June 30 and waive their default interest payments.


  The country will also issue 500-billion-yuan (about $71.2 billion) reloan and rediscount quotas to give backing to small and medium-sized banks in their credit support for smaller enterprises while lowering the interest rates of reloans supporting agriculture and small firms by 0.25 percentage points to 2.5 percent.


  Amid efforts to meaningfully lower the lending rates to the smaller firms, State-owned banks' balances of inclusive loans to small and micro businesses are tasked with a year-on-year growth target no less than 30 percent in the first half of this year and policy banks are urged to add special loan quota of 350 billion yuan for private and smaller businesses with preferential interest rates, the statement said.


  The meeting also promised to help individual businesses to weather the epidemic impact as they are the major job providers, the statement said.


  The meeting decided to exempt value-added tax for small-scale taxpayers in Hubei province and cut the tax from 3 percent to 1 percent for those outside Hubei from March 1 to May 31.


  Individual businesses will also see a cut in their insurance contributions. Industrial and commercial companies not from high energy-consuming industries will enjoy a 5-percent cut in electrical charges.

Latest News

Booth Application Opens in HOTEL & SHOP PLUS Shanghai 2025!
A Wood-Lined Office That Used To Be A Parking Lot
A Brightly Coloured Shelving Unit Helps To Define Areas In This Renovated Apartment
A Waterfront A-frame House Renovated With Contemporary Finishes
This New Home Addition Opens To The Garden
The Black Exterior Of This Home Leads To A Pink Kitchen Inside
Weathered Steel Covers The Exterior Of This Modern Home In Texas
BST development and production of rotomolding products and rotomolding technology for more than 16 years
MORE THAN20 YEARSEXPERIENCE OFMANUFACTURE ANDDEVELOPMENT TSXY
In the world the Professional Cleaning Equipment Manufacturers Guangzhou PADOM

Interested Articles

Success!
OK

Sinoexpo Digital Platform

Copyright 2006-2024 Shanghai Sinoexpo Informa Markets International Exhibition Co., Ltd. All rights reserved     沪ICP备05034851号-77     沪公网安备 31010402000543号