Number of market entities in Guizhou exceeds 3.14m

According to the administration for market regulation in Southwest China's Guizhou province, by May 18 the province had 3.14 million market entities with a registered capital of 7.75 trillion yuan ($1.09 trillion) - an increase of 10.39 percent and 6.6 percent, respectively.

To deal with the influence of the COVID-19 outbreak on economic development, Guizhou has taken various measures to support companies' return to work, as well as their expansion.

Guizhou promotes online government services. So far, over 60,000 administration reviews have been done online or by appointment, with about 1,000 administration reviews being handled by mailing the documents.

Guizhou's ten government departments have jointly launched measures to support individual businesses. So far, Guizhou has issued 2.61 billion yuan of low-interest-rate loans to 9,141 self-employed people, reduced 3.83 billion yuan of social insurance premiums, remitted 66.64 million yuan of income value added taxes, issued 9.18 million yuan of self-employment subsidy for 1,867 individual business owners, and reduced or remitted 1.6 million yuan of rent for 77 individual business owners.

To reduce or remit as much expense for enterprises as possible, Guizhou went through the charging items involving enterprises and reduced over 12 million yuan of inspection and testing fees for companies which have resumed work.

To enhance its technological and service support, Guizhou organized inspection and testing organizations to provide technology consultation services and guidance in areas such as standards, measurement, quality and production for about 1,500 companies.

Guizhou also extended the valid period of its administrative licenses to allow companies to renew their licenses after the outbreak abates, and did not categorize those companies affected by the outbreak as having "abnormal operation". So far, 118 companies have applied to delay their license renewal, and 948 companies applied to be removed from the abnormal operation list.