Coronavirus Update: Shanghai city rolls out economic policies to help firms

Will implement large-scale vat credits and refunds, reduce or exempt rents for SMEs.

Will strengthen financial guarantee support for SMEs and eligible companies

Will encourage internet platforms to further lower service fees and online operating costs for services and SMEs affected by epidemic.

Will encourage telecom operators to provide three months of free cloud and mobile services to SMEs.

Will encourage financial institutions to increase credit support and reduce loan interest rates for firms involved in food supply.

Support will also be given to tourism, transport and exhibition industries.

Will strengthen supply of epidemic control materials, improve construction and financing of centralized isolation housing and support import of COVID-19 vaccines, drugs.