Guiyang launches measures to better support private sector

Guiyang -- capital of Southwest China's Guizhou province -- attaches great importance to the growth of private business and as a result recently launched a range of policies and measures to support its development, according to local officials.

They said that in the current year, Guiyang established special teams to help the private sector resume work and overcome difficulties brought by the novel coronavirus epidemic.

To solve the problems of recruitment, logistics, cash flow, raw materials transportation and acquiring sufficient epidemic prevention materials, Guiyang assigned liaison teams to each district, industry and company.

Municipal authorities launched various measures for various sizes and types of companies -- especially small, medium and micro companies -- for financial support, preferential taxation, logistics, work resumption subsidies, cost reductions, legal aid and credit repairs to help them increase their output.

Officials said Guiyang coordinated with the city's financial institutions to provide convenient loans to 134 companies that were severely affected by the epidemic, involving total credit lines of 5.18 billion yuan ($743.17 million).

In addition, Guiyang simplified the examination and approval procedures for companies that were qualified to return to production, but were unable to submit required materials – helping them either remain in operation or to restore output in the shortest period of time.

Going forwards, officials said Guiyang will keep on the lookout to identify and solve solve problems in private sector, aiming. to guarantee its healthy and high-quality development.