Everything you need to know about work resumption in Shanghai
Here are 52 Q&As you may need about work resumption in Shanghai.
Conditions and arrangements
1. What sectors are prioritized in terms of applying for production resumption?
A: Currently, applications for production resumption are primarily accepted from companies in five sectors: those ensuring the city's normal operations, anti-pandemic supplies, important function guarantee, continuous production and supporting infrastructure. The local government is also providing full support to large industrial-chain businesses that have major influence on the Yangtze River Delta and national industrial and supply chains.
2. How many businesses have resumed work and production so far?
A: The Shanghai government recently issued the "Work Plan for Key Enterprises on Continuous Production (Trial)," and released "Guidelines for Shanghai Industrial Enterprises to Resume Production with Pandemic Prevention and Control (First Edition)." It also established a "white list" for key enterprises. So far, the first batch of 666 enterprises and a second group of 1,188 have been included on the list.
Under the premise of pandemic prevention and control, Shanghai has made some progress in the resumption of work and production. The next step will be to issue a notice on the resumption of commercial and trade enterprises and guidelines on the prevention and control of the pandemic, as well as establishing a "white list" for commercial and trade companies to resume operations.
Meanwhile, authorities at the municipal and district levels will continue to support enterprises, helping them with employee shift, nucleic acid testing and stockpiling anti-pandemic and living supplies.
3. If my company is not on the "white list" while our clients are among the first batch of enterprises to resume work, when can we start business?
A: In the early stages, Shanghai is focusing on leading companies like SAIC, Tesla, SMIC and Huahong and related supporting enterprises, in the hope this will help the resumption of work among upstream and downstream businesses in supply, industrial and even logistics chains, and then extend work resumption to related enterprises in the Yangtze River Delta region.
At the same time, all three provinces (Zhejiang, Jiangsu and Anhui) and the city in the delta will further optimize the "white list" and expedite the trial implementation of the "white list pool" for key industrial and supply chains and their suppliers in different areas of the delta region. This approach will expedite the recovery of entire industrial chains in the region.
4. What construction sites can resume work?
A: According to the pandemic situation, construction sites are divided into three types: red, yellow and green, and different control measures are carried out for each type. Red sites have the most stringent control measures, while yellow and green sites have lower levels of control.
Among them, red sites are the focus of supervision, which implement a complete shutdown and closed-off management. Living, office and construction areas are isolated separately, and movement between different areas is only allowed for personnel delivering supplies. All areas of these sites should carry out comprehensive disinfection every six hours.
For yellow sites, all activities should be staggered in shifts and personnel exchanges should be avoided.
Employee shifts are permitted in green sites, with strict verification of incoming personnel. Employees must show negative nucleic acid test results from within the prior 48 hours or the "returning-to-work code" along with taking an antigen self-test at site entrances. New hires and returning personnel should undergo a two-day isolation with individual accommodations in sanitary conditions. They can resume work in an orderly manner in line with relevant policies.
Application and preparation
5. What is the application process for enterprises to resume work and production? To whom should they apply?
A: The whole process can be roughly divided into five steps: preparation, application, inspections, notification of work resumption and returning to work and production.
In line with guidelines for enterprises to begin the orderly resumption of work with controlled risks against this round of the pandemic, enterprises should adequately prepare for personnel involved in production and operations, including a prevention and control plan, and submit the application form to the business park or town where they are located.
After receiving applications from enterprises, the business parks or towns will make a series of assessment, including the implementation of primary responsibility; classification management of the premises; employee management; logistics management; guarantee of anti-pandemic materials; and a emergency disposal plan to verify the situation and issue approvals.
Enterprises that have been approved are included in the list of businesses resuming work and production.
6. How long does it take to complete the entire process? How long does it take for an enterprise to get the lockdown lifted?
A: Enterprises applying for resuming production must strictly implement the "one company, one solution" policy on pandemic prevention and control, submitting their own anti-pandemic solutions to the district or street/town/business park for review. The timing for lifting the lockdown depends on the specific review situation.
7. Employees need to return to work and production. How do we apply for the electronic pass for employees' return to work?
A: To steadily promote the resumption of work and production, and strengthen the health management of returning staff, the city's big data center has placed a digital pass online for returning staff on the Suishenma page.
Staff included in the "white list" who work in buildings that have not had a positive case in the previous seven days can apply for this pass. Eligible enterprises should apply to relevant departments in their districts.
8. How can employees return to work from their communities?
A: The pass integrates information such as identification, proof of work and white-listed enterprises, and 48-hour nucleic acid test reports. Returning employees can contact the neighborhood/village committee where they live, open the Suishenma and select Fufongzheng (work-resumption pass). According to the city's anti-pandemic requirements, committees will check documents including ID card and digital pass for staff returning to work, and confirm the building where they live is free of positive cases in the previous seven days. After taking an on-site antigen self-test and registering, employees are free to leave their communities.
9. While enterprises are resuming production, how should we address transportation and cross-province logistical problems?
A: For freight needs, passes will be issued for the intra-city and cross-provincial movement of freight vehicles, and a digital pass on the Suishenban platform will facilitate real-time verification of traffic management authorities.
Enterprises can apply for the pass in or out of the city. After approval, the digital pass can be shown on Suishenban with functions including dynamic verification of personal information, results of nucleic acid and antigen tests, and route information. A special cross-provincial work team has been formed focusing on automobile, chemical and other industries with high logistics needs. Inter-provincial production material transit stations have also been created to open up a regional transportation channel for production materials.
10. How and where do enterprises apply for the Key Material Transportation Vehicle Pass?
A: Enterprises can download the Key Material Transportation Vehicle Pass application form, and submit it along with relevant application materials via e-mail to the authority for cross-provincial transportation.
For example, commercial goods and household material enterprises should apply to the city's commission of commerce or commercial district authorities. Those producing or selling medical and pharmaceutical materials should log onto the Shanghai Health Commission's portal website to download the application form. Energy-related enterprises are classified as urban gas and other energy-preservation enterprises, and should apply to the city's Housing and Urban-Rural Development Management Committee and the Development and Reform Commission.
After examination and approval, the enterprise, vehicle and driver information is included in the "white list" database and the list is dynamically adjusted.
The drivers included in the "white list" can apply for the pass for each transportation task via the Suishenban mobile application or its mini program on WeChat and Alipay.
Those eligible can get a digital pass and PDF version to print out; digital and paper certificates have the same effect.
11. Is the Key Material Transportation Vehicle Pass time-sensitive?
A: The pass, driver and vehicle must match, and one pass can only be used for one transportation route. For repeated business on the same route, the pass can be used repeatedly within the period it is valid. If the route changes, the driver must cancel the current pass before applying for a new one.
When the driver's and passenger's health code shows abnormal colors, or the nucleic acid test results exceed the 48 hours of validity, the pass will immediately become invalid and reapplying is necessary.
Pandemic control measures
12. Has the government issued guidelines on pandemic prevention and control related to work and production resumption? What kind of supportive measures does the government provide to enterprises that need pandemic prevention and control materials while resuming work and production?
A: Companies should take pandemic prevention responsibilities to ensure material supplies, staff screenings, risk separation and internal management are put in place and strictly carried out.
District-level management authorities will help provide supplier's information for materials required for pandemic prevention and connect with supply and demand sides.
All district-level governments, towns and industrial parks should actively help enterprises to resume work and production, and guide them to formulate specific schemes according to each business' situation.
District-level authorities and industrial park management committees should set up nucleic acid testing points and provide testing services, support for pandemic prevention and basic living materials, as well as daily necessities.
13. How can companies carry out their responsibilities and put in place pandemic prevention and control measures?
A: Prior to resuming work, companies are required to formulate resumption and contingency plans, implement daily personnel health monitoring, and ensure the resumption of work is carried out in a safe manner.
For example, food production enterprises need to establish a sound scheme for monitoring and protecting the health of their personnel, and carry out thorough measures covering staff health checks, disinfection of production sites, inspection of incoming raw materials and checking suppliers' legitimate proof of product certificates and inspection against finished products.
They should also make sure pandemic prevention and protection measures extend to the entire on-site workforce.
Companies involved in the production of imported cold-chain food must carry out weekly self-inspection on the "Shanghai Cold Chain" WeChat mini program, and should strictly implement every inspection procedure regarding raw material, relevant product certificates, disinfection measures and warehouse management schemes.
14. What are companies' specific requirements in terms of production sites and office management?
A: Different tiers of prevention measures should be set up in different areas of the workplace, such as factory entrances, production areas (i.e. factories and meeting rooms), daily activity areas (i.e. canteens, dormitories and gyms), toilet and waste disposal spaces and public areas (i.e. roads and outdoor spaces). There should be different tiers of pandemic prevention measures for different areas.
Various standards of protection should be applied to different areas based on the level of contact with the external environment. N95 or KN95 masks are required for personnel in medium and high-risk areas, and disposable surgical masks must be worn in low-risk areas.
Physical isolation should be implemented between different types of areas, and all personnel should be restricted to their work and accommodation areas, with all personnel working and staying in designated areas to minimize direct contact between personnel in different areas.
15. After employees return to work, how should companies carry out closed-loop management on site?
A: Companies should carry out full closed-loop management and ensure no physical contact is made when different groups of employees make shift changes. Moreover, all on-site staff should refrain from going outside as much as possible.
Companies should arrange transportation for staff returning to offices for drop-off at designated locations.
There should be strict control measures for external visitors at production sites and offices. Visitors must have negative nucleic acid test certificates from within the previous 48 hours and on-site negative antigen self-test results.
16. Are daily nucleic acid tests required for those returning to offices? What are the health-management requirements?
A: Companies should carry out daily monitoring of on-site personnel's health status.
On a daily basis, on-site staff should take one antigen self-test in the morning and one nucleic acid test in the evening. A designated employee should compile the daily health status of all personnel.
Those with possible COVID-19 symptoms, such as fever, dry cough and fatigue, should be placed in temporary isolation spaces. Follow-up measures in accordance with relevant regulations should also be carried out.
17. What is the guidance on management of accommodations and canteens during closed-loop management?
A: Strictly manage staff dormitories and prohibit visitors from entering.
Those working on the same shift/work group or in the same office should live in the same room. A certain period of isolation is required for newly returning employees with independent accommodations and living quarters.
Dining should be divided into different time slots with a reasonable layout of tables and chairs in the dining area. Isolation boards should be placed on dining tables and a safe social distance of more than 1 meter should be maintained when picking up meals. Independent dining in a safe environment is recommended.
Cleaning and disinfecting of all parts of offices should be carried out, and special attention should be paid to closed, semi-closed and shared spaces. Additionally, thorough disinfection should be carried out in areas for the shifts of logistics on site.
18. How should external raw material, supplies and goods be handled during closed-loop management?
A: For production and basic necessities brought into offices, special routes and fixed places should be set up that are isolated from other areas, and both drivers and passengers of external suppliers' vehicles are required to enter offices in strict accordance with pandemic prevention requirements.
A designated personnel team should handle receiving, loading and unloading, storage, unpacking and disinfection of external supplies.
The driver and crew of every logistics companies' vehicle must have a negative nucleic acid test report from within the previous 48 hours or a negative antigen self-test report from within the prior 24 hours, and the driver should be properly equipped with protective gloves and other gear.
19. What is the processing protocol when an employee has an abnormal health condition?
A: Companies should set up temporary isolation and observation areas based on their size.
Those with many on-site employees should set up makeshift hospitals.
If an employee has an abnormal antigen or nucleic acid test result, an immediate report must be sent to district-level disease control authorities. The staff member in question should be sent to a temporary isolation observation area as quickly as possible. At the same time, precautionary isolation measures should be carried out for close contacts, who should be kept in different quarters.
20. What measures should be taken if there's a confirmed COVID-19 case during the closed-loop management?
A: Companies should develop a contingency plan for emergency situations and control the spread of the virus as much as possible to ensure safe production.
Companies should carry out drills to ensure that all employees are familiar with every pandemic prevention and control process. They should also strengthen communication and information exchanges with local government, and establish a liaison channel for the transfer of positive cases.
21. How much pandemic prevention materials should a company have on hand?
A: Companies should have ample reserves of pandemic prevention materials, and purchase enough pandemic control materials and gear – including antigen self-test kits, protective masks, clothing and glasses, disinfectant alcohol, hand sanitizer, infrared and thermal-imaging thermometers and disposable medical gloves. They should also keep pandemic prevention supplies that last 14 days or more to maintain normal business operations. All used protective materials and gear should be collected and disposed of safely.
Supportive measures
22. What kinds of policies have been released to support enterprises to cope with the impact of the pandemic? How can one get first-hand information?
A: Since the outbreak of the pandemic in Shanghai, the government and financial institutions have introduced a number of policies to support enterprises in various industrial sectors. Some of these policies are more applicable to small, medium-sized and micro-enterprises, while some of them are also applicable to enterprises of different ownership and sizes.
Shanghai's one-stop cloud platform Enterprise Service has a special column titled "Fighting the pandemic and safeguarding Shanghai" on the www.ssme.sh.gov.cn website to explain relevant policies and updates. It is intended to keep companies up to date on the latest situation so that they are fully informed and can benefit from preferential policies.
23. When enterprises resume production, they might encounter problems such as a shortage of raw materials or spare parts or inadequate transportation and warehousing services. How will the local government help solve these problems?
A: According to the deployment and requirements of the CPC Central Committee and the State Council, Shanghai will further deepen support for enterprises that resume work and production and expand support in more industries and fields, including logistics, producer services, and supporting industrial chains.
24. How can one ensure the safety and smoothness of the industrial supply chain in the Yangtze River Delta?
A: On April 30, five customs offices in Shanghai, Nanjing, Hangzhou, Ningbo and Hefei in the Yangtze River Delta region issued a joint notice to ensure the safety and smoothness of the industrial supply chain in the region and minimize the impact of the pandemic on economic and social development. The specific measures include five aspects.
A coordination mechanism will be built under the guidance of the General Administration of Customs to ensure smooth traffic.
Other steps are to speed up the declaration and departure of goods at Shanghai Port, to set up a green channel for customs clearance of key materials from key businesses, to speed up cross-border goods movement, and to set up an information exchange platform for customs and businesses in the delta region.
25. In addition to the resumption of production by a single enterprise, how can we effectively promote the coordinated resumption in the industrial chain?
A: Shanghai will encourage more enterprises in the industrial chain to resume production. For example, in the automobile industry, key parts and warehousing and logistics enterprises will be urged to resume production.
26. Has Shanghai considered introducing policies and measures to alleviate the problem of transnational and inter-provincial mobility of personnel?
A: Shanghai will improve and implement relevant policies, measures and regulations in accordance with national standards on transnational and inter-provincial mobility of personnel, and will announce and implement them in a timely manner.
27. What key areas and enterprises will receive credit support for the resumption of work?
A: Financial institutions will be encouraged to increase credit supply to meet the demand for funds for the resumption of work and production, set up separate credit plans, and take the initiative to meet the needs of enterprises that supply people's livelihood security, pandemic prevention, medicine, and medical care, and material production.
Banks should provide more funding for tourism, accommodation, catering, wholesale and retail, transportation, logistics and warehousing, culture and entertainment, exhibitions, and other industries that are greatly affected by the pandemic. Banks will also be told to help out enterprises that have good development prospects and a reputation but are temporarily trapped in liquidity.
28. What kind of support policies will be offered by the insurance industry?
A: Insurance institutions will lower fees, delay premium payments, expand the responsibility of COVID-19 policies, and give away insurance policies to help them get through the short term.
Insurance institutions will be urged to develop and design more innovative products like liability insurance and business interruption insurance with wider responsibilities, lower prices, and more coverage on the basis of controllable risks. Insurers are called upon to provide more protection for the production and operation of small and micro enterprises and related people, offer customized insurance schemes for drivers, postal couriers, medical staff, community workers, and public welfare volunteers, and provide diversified, all-round, and inclusive insurance protection.
Shanghai will support local insurance companies to further enrich the supply of anti-pandemic insurance products, expand the insurance guarantee responsibility in COVID-19, expand the coverage of risk protection such as business interruption caused by pandemic, establish a green channel for insurance claims, and improve the efficiency of making claims.
29. What kind of deferred repayment support will be provided for enterprises with liquidity difficulties?
A: For industries as well as small and medium-sized enterprises that have been greatly affected by the pandemic this year and have a strong ability to absorb employment, banking institutions will be called upon to negotiate with the borrowers and make plans for renewing or extending loans in accordance with the principle of marketization.
Small loan companies and pawnshops can reduce customers' repayment pressure by granting loan extensions, extending the repayment period and credit protection.
30. What financial aid can be used to get the industrial chain back up and running?
A: Shanghai will support core enterprises by seeking credit and bond financing and help small and medium-sized enterprises in the upstream and downstream of the industrial chain solve problems such as tight liquidity through accounts receivable financing, order financing, advance payment financing, inventory, and warehouse receipt financing. Foreign trade credit will be increased to support the coordinated development of the global industrial chain.
31. What should an enterprise do if its production licenses expire during the pandemic?
A: Take food production enterprises as an example. If the license expires and cannot be renewed during the pandemic situation, the validity period of the food production license will be extended to one month after the lockdown is lifted.
At the same time, food production enterprises should strengthen the health management of employees; it is forbidden to hire personnel suffering from diseases that hamper food safety.
32. How does the EIA support enterprises to resume work and production?
A: On April 30, the Shanghai Bureau of Ecology and Environment issued 13 support policies to strengthen government services and technical support.
For example, the environmental impact assessment and sewage discharge permit procedures for anti-pandemic supply projects are exempt. The EIA and sewage discharge permit procedures for temporary anti-pandemic projects such as reconstruction and expansion of medical institutions, new reconstruction, and expansion of centralized isolation points or shelter hospitals, production of anti-epidemic materials, research and experiments shall be exempted.
The authority will appropriately extend the acceptance period for environmental protection for the completion of construction projects. If the construction project that was originally planned to complete the environmental protection acceptance in the first half of 2022 cannot be completed on time due to epidemic prevention and control, the acceptance work can be postponed to be completed within three months after the end of the pandemic.
It will make every effort to ensure the development of major projects and pillar industries. For the construction projects on the list of major projects, technical evaluation should be implemented to intervene in advance, and a special person should follow up to ensure the early start and production of the projects.
33. During the pandemic prevention and control period, how does one achieve credit repair?
A: The Shanghai Development and Reform Commission (Municipal Credit Office) has formulated an implementation plan to give full play to the positive role of social credit system construction in pandemic prevention and control.
At present, Shanghai has established a rapid-handling mechanism for credit repair during the pandemic. The credit repair application submitted by the enterprise through Government Online-Offline Shanghai will be transferred to the industry authorities on the same day.
Relevant processes of credit reevaluation and credit repair for key pandemic prevention enterprises will be completed within one working day.
Through online inquiry, SMS and other diversified ways, enterprises can learn about the progress and obtain the repair certificate. Online electronic signatures will speed up the credit repair application process, and businesses won't have to send in documents like identity certificates and credit reports that can be checked through data sharing.
34. Can enterprises delay the payment of wages to employees if their normal operation is affected by the pandemic or other control measures?
A: Enterprises that have encountered difficulties in production and operation are allowed to postpone the payment of wages to employees if they can first reach an agreement with the trade union or employee representatives. In any case, the delay should not be longer than one month.
35. When employees seek the termination of labor contracts and compensation from their pandemic-affected employers, citing reasons including their employers' failure to make timely or full-amount payment of their wages or social insurance premiums, what is the appropriate approach to handle such cases?
A: For pandemic-affected enterprises, particularly medium-sized, small and micro firms, such conflicts between employers and employees should be dealt with through reconciliation and mediation to restore labor relations. Economic compensation should not be supported in such cases.
Relief policies
36. What rent reductions and exemptions are enterprises in Shanghai eligible for?
A: Small and micro enterprises and private businesses are entitled to three-month rent relief in 2022 if their landlords are state-owned enterprises while those located in medium- and high-risk areas or whose operations are seriously affected by the pandemic prevention and control measures are eligible to a total of six-month rental waiver during the year. Such reductions and exemptions do not apply to reletting cases.
37. What kind of enterprises are entitled to supportive policies pertaining to payment of social insurance premiums?
A: All medium-sized, small and micro enterprises and private businesses whose operations are affected by the pandemic are now entitled to delayed payment of social insurance premiums. Previously, such policies were only confined to the most seriously affected industries such as catering, retail, tourism, civil aviation, and road, water and rail transportation.
38. What tax incentives can enterprises enjoy?
A: On March 24, the Ministry of Finance and the State Administration of Taxation announced that from April 1 to December 31, small-scale VAT taxpayers falling in the 3 percent rate category are exempt from tax payment while tax payment by companies falling in the 3 percent prepaid rate category is temporarily suspended. On the city level, Shanghai has also introduced a series of tax incentives, including value-added tax credit refunds and tax waivers, with priority for micro and small firms as well as private businesses.
39. What aid policies can enterprises enjoy?
A: The preferential 1 percent unemployment insurance premium rate will remain in place, and the work-related injury insurance benchmark rate will continue to be temporarily reduced by 20 percent. Training subsidies, support for entrepreneurial activities and refund of trade union fees will be extended to stabilize and expand jobs.
Temporary discounts on electricity bills will continue to be provided for industries in extremely difficulty, and preferential broadband and private line fees will be offered to medium-sized, small and micro companies to reduce online operation costs.
40. What supportive financial policies have been put in place for industries seriously affected by the pandemic?
A: For industries facing great difficulties due to the lasting impact of the pandemic, increased support has been offered to ease their financing difficulties through a variety of service models, including seamless loan renewal, loan repayment on demand, credit loan and supply chain finance. Measures such as online processing and application-free, instant approval have also been adopted to offer convenience.
41. What are the supportive financial policies for small and micro firms as well as private enterprises?
A: Financial institutions are encouraged to expand their coverage of inclusive finance and extend loan support to struggling sectors, in particular small and micro companies and private enterprises. First-time loans, credit loans and loan renewals without principal repayment for small and micro firms will be further increased while for pandemic-affected struggling companies, lenders should avoid making hasty decisions, including loan withdrawal or cut-off. Pandemic-affected sectors should be included in the key industry list of financial institutions and rewards will be granted to local banks which extend inclusive loans to small and micro firms.
42. What are the financial relief measures provided by local financial organizations?
A: Small-loan companies with good management, strong risk control capabilities and proven assessment record are encouraged to serve the real economy through bond issuance, borrowing from shareholders, inter-bank lending, and issuing asset-backed securitization products with the company's own loans serving as underlying assets.
Repayment date of the principal and interest for inclusive small loan due between March 1 and September 30 can be extended conditionally to December 31, with no penalty interest.
Banking institutions are encouraged to strengthen cooperation with local financial organizations, provide financing support to such organizations, increase credit lines for small-loan companies, financial leasing, commercial factoring and other institutions, and reduce their financing costs.
43. Which industries and sectors will get a major boost from the relending policy?
A: Logistics and shipping, science and technological development and technological transformation, and agriculture-related business entities as well as businesses upgrading their coal-fired power units are among those that will benefit the most from the relending policy.
44. What supportive policies do banking institutions have for new loans?
A: Financial institutions should work hard to find new loan customers and increase the ratio for first-time clients. New financing services for medical service units, anti-pandemic material manufacturers, urban operation units, small and micro firms as well as private enterprises engaged in the business of staple and non-staple food and daily necessities should be further increased.
45. What supportive policies are in place to strengthen financing guarantee?
A: The city will support government-backed financing guarantee companies to provide services for medium-sized, small and micro enterprises and private businesses, and help in renewing insurance and loans for pandemic-affected struggling firms. Startups will receive strengthened support with regard to financing guarantee.
For key medium-sized, small and micro enterprises related to pandemic prevention and control, as well as those seriously affected by the pandemic, which are first-time bank loan applicants in 2022, the guarantee premium by the city's loan guarantee center will be 0.5 percent, and the re-guarantee rate will be halved, while startups will be exempted from guarantee fee.
46. What are the supportive policies from financial organizations to reduce financing costs?
A: Financial institutions should help reduce financing costs for small and micro enterprises through loan prime rate while giving full play to relending and rate discounts to facilitate economic recovery.
Financial institutions should shorten financing services chain and scrap unnecessary intermediate links to cut costs while administration fees such as account management, payment settlement and financing guarantee will be exempted for small and micro enterprises, as well as those seriously affected by the pandemic.
Cooperation between policy banks and smaller commercial banks will be promoted to expand loan size and reduce financing costs.
Financial institutions should also slash fees for bank account services, transfer and remittance of the yuan, bank card services, e-banking services and payment account services.
47. What are the supportive policies from local financial organizations for medium-sized, small and micro enterprises?
A: Local financial organizations should appropriately reduce the premiums on loan, guarantees and pawn for medium-sized, small and micro enterprises. For companies related to pandemic prevention and control, as well as those seriously affected by the pandemic who are first-time loan applicants in 2022, the guarantee premium by the city's loan guarantee center will be 0.5 percent, while the re-guarantee rate will be halved.
Companies with outstanding importance in the fight against COVID-19 can be exempted from audit fees for listing, financing and bond issuance in regional equity markets, and pre-trial service fees should be cut for those intermediaries.
48. What are the financial relief policies for catering companies?
A: The city will innovate on financing and encourage financial institutions to issue credit loans to catering companies with the use of accounts receivables and orders.
49. What are the financial relief policies for retailers?
A: Financial institutions are encouraged to raise credit support, reduce loan rates and give loan discounts for registered enterprises involved in emergency supply, and key cultivation. They should also support the smooth operation of wholesale markets, supermarkets, e-commerce platforms and delivery companies, helping them in transport and supply of food. Information should be shared by financial institutions and government departments responsible for retailers to issue more credit loan via transaction flow, property leasing and other related information.
50. What are the financial relief policies for tourism companies?
A: For qualified travel agencies, the temporary refund of travel service quality deposit will be raised to 90 percent from 80 percent. And the deposit will be replaced by insurance on a trial basis. Government-backed financial institutions are encouraged to enhance credit and guarantee services and support service renewals for those seriously affected by the pandemic. Qualified travel agencies and A-level tour sites are entitled to loan discounts.
51. What are the financial relief policies for transport companies?
A: The city will continue to subsidize qualified civil routes via the civil aviation development fund, and offer loan discounts for civil aviation infrastructure construction. For airline companies and airports seriously affected by the pandemic, the city will create green channels so that they can issue bonds.
52. What are the financial relief policies for freight logistics firms?
A: The city will increase credit and insurance support for transport companies, as well as individuals like truck drivers. Banks and insurers are encouraged to optimize the approval process to offer flexible financial services for freight logistics companies which are crucial in pandemic prevention and control. Insurers should develop tailored products such as freight transport insurance and carrier liability insurance for risk management. The city will also strengthen financial support for work resumption of shipping logistics companies to ensure smooth international supply chain.
(Policies will be updated constantly.)
