Ordos rolls out measures to support SME development

Ordos, a major city in North China's Inner Mongolia autonomous region, on Feb 27 issued 14 preferential measures to support the development of resident micro, small and medium-sized enterprises amid the current novel coronavirus pneumonia epidemic.

The outline of these 14 measures are as follows:

1. Set up a subsidy fund of 50 million yuan ($7.13 million) and give subsidies to small, medium and micro-sized enterprises and individual businesses in the consumer services.

2. Six-month rent free for micro, small and medium-sized enterprises and individual businesses who rent the houses of State-owned enterprises or administrative institutions.

3. Reduce or remit administrative fees.

4. Reduce tax quotas.

5. Speed up the repayment of State-owned enterprise arrears to private small and medium-sized enterprises.

6. Strengthen credit support for micro, small and medium-sized enterprises, agriculture, rural areas, farmers, poverty alleviation and other key areas.

7. Encourage financial institutions to extend renewal loans based on corporate applications, while encouraging banks to appropriately reduce interest rates and reduce overdue interest.

8.Increase loan discounts for micro, small and medium-sized enterprises.

9. Reduce finance guarantee fees.

10. Support the development of the key industries of agriculture and animal husbandry.

11. Solve the problems in the preparations for spring ploughing and agricultural product sales.

12. Speed up the return of unemployment insurance benefits.

13. Support enterprises to recruit new employees.

14. For small and medium-sized micro enterprises that organize employees to participate in online training of vocational skills free of charge during the epidemic period, if it is in line with the scope of use of vocational skills training funds, they shall enjoy corresponding subsidies according to their actual training costs.