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North China's Tianjin provides over 20bln yuan financial support for enterprises in TEDA

June 19, 2020


Abstract : North China's Tianjin Municipality has rolled out multiple measures to help enterprises go through financial difficulties. Those in the Tianjin Economic-Technological Development Area (TEDA) had received a total of 22.38 billion yuan worth of financial support as of early June, said the TEDA on Thursday.

TIANJIN, June 19 (Xinhua) -- North China's Tianjin Municipality has rolled out multiple measures to help enterprises go through financial difficulties. Those in the Tianjin Economic-Technological Development Area (TEDA) had received a total of 22.38 billion yuan worth of financial support as of early June, said the TEDA on Thursday. 

TEDA makes full use of financial means such as insurance, credit and interest discounts,  build a platform to facilitate connection between enterprises and banks, encourage banks to innovate financial products, reducing financing costs for enterprises effectively. 

Meanwhile, TEDA has reduced or exempted social security fees, renting, production energy use costs and administrative fees for enterprises, which can help them save a total of 1.12 billion yuan.

In addition, TEDA has boosted the development of enterprises by allocating special funds, increasing government procurement and providing support for scientific and technological enterprises, with the total amount of supporting funds reaching 328 million yuan.

An official with the TEDA said that they will strive to facilitate the implementation of favorable policies and ensure enterprises can enjoy the benefits. 

As one of the first batch of national economic and technological development areas, TEDA has tens of thousands of enterprises in it, of which high-end manufacturing enterprises account for a large proportion. (Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)

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Keyword: enterprises TEDA

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