On June 23, Guangdong-Macao In-Depth Cooperation Zone in Hengqin announced a series of supporting measures to help enterprises in the zone cope with the production and operating difficulties caused by the pandemic. The amount of subsidies is expected to exceed 100 million yuan.

Market entities will be granted subsidies of up to 1 million yuan for utility bills, and comprehensive market entities like industrial parks can receive a subsidy of up to 3 million yuan.

Businesses in the service sector will be granted subsidies of up to 100,000 yuan for epidemic prevention and disinfection.

Rentals on Zhuhai state-owned property for micro, small and medium-sized enterprises (MSMEs) in the manufacturing and service sectors and self-employed households will be lowered or waived. Those who have paid rent can defer the reduction.

Consumption coupons totaling 50 million yuan will be issued to reinvigorate businesses in the catering, retail, tourism, and other service sectors that the pandemic has seriously impacted.

The scope of risk compensation for loans and financing guaranty will be expanded from small and medium-sized enterprises to self-employed households. The cap on risk compensation percentage of new loans (including extensions) and financing guaranty of banks, micro-lenders, and financing guaranty institutions from January 1 to June 30 this year will rise from 50% to 80%.

Related News:

Notice from the Executive Committee of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin on the Issuance of “Measures to Help Market Entities in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin to Relieve Burdens During the Pandemic” (In Chinese)

Author: Lynette (Intern)

Editor: Wing, Nan, Will, Jerry