10 measures launched to support companies

Hangzhou government launched 10 measures on February 5 to help local companies relieve financial pressure and better resume production at the beginning of Chinese New Year.

Local departments will award up to 100,000 yuan (US$15,730) to food production companies with a monthly added value of over 10 million yuan. Restaurants that increase revenue by 1 million yuan in a month will be granted up to 50,000 yuan.

The recent COVID-19 outbreak in Hangzhou has affected many enterprises in terms of personnel recruitment and resuming factory production. To solve these problems, Hangzhou government is encouraging companies to charter long-distance coaches to bring workers back and will subsidize up to 50 percent of transportation costs before February 28.

To relieve the financial burden on companies, local authorities have lowered insurance rates and extended the deadline for related unemployment subsidies to March 31.

The government will subsidize companies with 1 percent interest on loans if they have a long-term (more than a year) loan of over 10 million yuan from banks.

The odd-and-even license plate scheme for cars won't be applied through February 20 in the West Lake scenic area in order to attract more tourists.

In other areas that imposed vehicle restrictions, engineering vehicles are allowed to drive during rush hour as long as they link to the government's freight navigation system. This measure is expected to accelerate the resumption of construction citywide.

Hangzhou is offering cash and consumption coupons to every non-native who pays taxes and stayed in the city during the Spring Festival holiday. The coupons were originally available through February 14, but the cutoff date has been extended to March 31 to benefit those who have recently been in quarantine.