Shanghai to support epidemic-hit companies

SHANGHAI: Shanghai’s Pudong New Area has introduced a series of supportive policies, including rent reduction and exemption to help companies resume production and reduce the fallout from the coronavirus outbreak, according to local authorities.
So far, 66 percent of industrial enterprises above designated size in the Pudong New Area have resumed work, said Guan Xiaojun, deputy head of Pudong New Area, at a press conference on Monday.
The resumption rate of the software information service companies in the area has reached 93 percent, and the figure of foreign trade enterprises has exceeds 85 percent, according to Guan.
Pudong New Area State-owned Assets Supervision and Administration Commission said the amount of rent reduction and exemption would reach more than 1 billion yuan (about 142 million U.S. dollars), benefiting about 8,000 enterprises covering industry, retail, commerce, and technical services.
Pudong New Area also arranged 40 buses to transport employees outside Shanghai back to the companies. In the newly established Lingang Special Area of China (Shanghai) Pilot Free Trade Zone, 971 companies have resumed operation and over 40,000 employees have returned to work. – Agencies