Xiamen introduces measures to support the work resumption of cultural and tourism enterprises

Recently, the Xiamen Municipal Government issued the "Notice on 8 Measures for promoting enterprises to resume work and production during COVID-19 outbreak response" (hereinafter referred to as the "Notice"), in which mentioned targeted measures such as discount interest support and reduction of water and electricity prices for cultural and tourism enterprises to further support the smooth work resumption, and promote the recovery and development of local cultural and tourism economy.

The "Notice" indicates that for the transportation, cultural tourism, convention and exhibition, accommodation and catering enterprises, the relevant departments shall fully support with the property tax and urban land use tax paid from February to March 2020. For small and micro enterprises in the transportation, cultural tourism, exhibition, accommodation and catering industries, the bank loan(including the loan extension) of 300,000 yuan or more lended from January 1, 2020 to May 31 will be given 50% discount of the actual loan interest rate. The period shall not exceed 6 months.

In addition, the "Notice" also requires that the investment scope of the bail-out development fund will be expanded from listed companies and their major shareholders to non-listed key enterprises, related department should support key enterprises to resolve the operating crisis through equity and bond investment. City and district(management committee) finance and banks and other loan institutions jointly fund the "Xiamen small and medium-sized enterprises financing and credit enhancing fund" to provide financing and credit-enhancing services for the small and medium-sized enterprises in Xiamen.

Source: CTNEWS app