Yantai unveils measures supporting virus-hit cultural, tourism industries

The Yantai municipal government rolled out 21 measures on March 18 to boost local cultural and tourism industries which have been greatly impacted by the epidemic and help companies in the sectors resume operations.

The local government is encouraging banks and financial institutions to appropriately reduce interest rates, reduce overdue interest and adjust the repayment period for severely affected enterprises.

For small and medium-sized enterprises (SMEs) that lease the operating property of State-owned companies, rent for the first three months of 2020 will be reduced or waived.

During the epidemic, the supply of electricity, water, and gas will not be stopped for SMEs even if payment is overdue. Taxpayers shall be exempted from value-added tax, urban maintenance fees, and construction tax on the income from providing such services as catering and accommodation.

In addition, development funds will be allocated to help severely affected enterprises, upgrade cultural facilities, and introduce more cultural and tourism construction projects.

As for industry development, the government encourages A-level tourist attractions in the city to open for free to medical workers for the remainder of the year, and will offer a variety of awards and subsidies.

Yantai will increase support to five-star hotels and boost their development in a bid to optimize the investment environment, improve urban functions, and promote cultural and tourism consumption.

The city’s popular festivities will be encouraged after the epidemic to lift the city’s reputation.

The local government will also help scenic spots, museums, art galleries, and more to extend their evening hours in order to fuel the nighttime economy, and intends to build 11 evening cultural and tourism consumption areas.

Online resources will also aid the development of local culture and tourism. The city will accelerate the integration of culture and technology and help visitors to get to know Yantai via smartphones.