CHINA Shanghai policies aiding tech firms through COVID-19 epidemic: vice-mayor


Shanghai policies aiding tech firms through COVID-19 epidemic: vice-mayor

People's Daily app

22:41, May 02, 2022

(Photo: VCG)

Shanghai government measures released April 2 are helping technology firms tide through the COVID-19 crisis and “have played a major role so far,” Vice Mayor Liu Duo said at a press conference on Monday.

Liu outlined several ways the city’s measures are helping. A series of tax and financial measures have aided smaller tech companies, he said, with priority given for epidemic prevention and control projects. 75 loans totaling 360 million yuan (about $ 54.5 million) have been made to companies through a green channel for non-renewable loans and extensions.

Some 108 enterprises have been recommended to apply for performance liability guarantee insurance loans for a total of about 490 million yuan (about $ 74.2 million), he said. Requirements have been relaxed and filing time extended for company projects. The city has optimized non-meeting approvals and innovative policy services for firms adopting telecommuting.

Shanghai has also launched an emergency online green channel for the approval letters necessary to recruit high-end foreign talent.

More measures are planned to relieve the difficulties of tech enterprises, Liu said.

(Compiled by Chen Xinjin)

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