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Xinhua Credit
Policy

Shanghai FTZ Lingang Special Area takes measures to aid enterprise amid epidemic

February 12, 2020


Abstract : Lingang Special Area of the Shanghai Pilot Free Trade Zone (FTZ) on Monday rolled out 16 new measures to support the development of enterprises amid the novel coronavirus outbreak, reported Xinhua-run cs.com.cn Tuesday.

BEIJING, Feb. 12 (Xinhua) – Lingang Special Area of the Shanghai Pilot Free Trade Zone (FTZ) on Monday rolled out 16 new measures to support the development of enterprises amid the novel coronavirus outbreak, reported Xinhua-run cs.com.cn Tuesday.

Concrete measures will be taken to support enterprises in fighting the epidemic, effectively reduce the operating burden of enterprises, and steadily promote the resumption of work and production of enterprises.

The special area promised support to biomedical enterprises in tackling hard-nut  technical problems, especially those concerning medical treatment methods, drug research, testing technology and medical equipment, by providing exceptional financial support of up to 70 percent of the total investment required.

A one-time reward of 3 million yuan at most will be offered to those personnels who make significant achievements in technological research related to the clinical prevention and control of the epidemic, according to the special area. 

In a move to ease the pressure on capital flow of enterprises during the epidemic for enterprises, the special area has decided to put in place in advance the industry policies  to enterprises in the fields of integrated circuits, artificial intelligence (AI), biomedical, and civil aviation.

The Lingang Special Area has also set up a special assistance fund totalling 10 million yuan to alleviate the funding issues of small and medium-sized enterprises (SMEs) affected by the epidemic for enterprises without bad credit records.

In addition, in a bid to facilitate the production resumption of enterprises, the area administration plans to arrange a total of 1,000 public rental housing, apartments, and budget hotels for home isolation and staff accommodation of critical enterprises.

Rental subsidy will also be given to tenant employees who are isolating for 14 days of observation after they returned to Shanghai. (Edited by Jiang Feifan)

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Keyword: Shanghai FTZ Lingang new area

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