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Fuzhou eases bottlenecks for local enterprises

By Liu Yukun in Beijing and Hu Meidong in Fuzhou | China Daily | Updated: 2020-02-20

Realizing the different requirements of enterprises, Fuzhou has come up with multiple preferential policies for various sectors.

For instance, the city government said in a recent statement that in the real estate sector, developers who had delayed resumption of commercial property projects will be exempt from the responsibility of handing over houses to owners on time, and will not face any further issues arising from the breaking of their contracts.

The city has also rolled out other supportive policies for the real estate sector, such as launching online trade platforms to help developers generate more revenue and guarantee capital flows.

For sectors that have higher requirements like efficient transportation, such as vegetable suppliers, the Fuzhou government has launched favorable policies to guarantee smooth logistics, such as giving them priority of roads that have restrictions for carrying loads.

"Among all businesses, small-and medium-sized companies, especially private companies, are getting detailed attention from both the central and local governments, as they are less capable of dealing with the epidemic risks, but are essentially important to China's development of secondary and tertiary sectors, creating more jobs and taxes, and the country's advancement of tech innovation," Zhou said.

Along with the Fuzhou government's efforts to support small-and medium-sized companies to resume work, the Fuzhou-based Industrial Bank has offered over 8 billion yuan ($1.14 billion) of financing to companies related with epidemic prevention, with 2.8 billion yuan going to small-and medium-sized businesses.

Liu Chunsheng, an associate professor of international trade with the Central University of Finance and Economics, said such moves are necessary to guarantee people's daily lives and economic development of provinces and cities. However, it is also important for the government to strike a balance between the novel coronavirus outbreak control and economic development.

Aware of this, Fuzhou has been encouraging cross-border e-commerce platforms to attract overseas medical service providers for imports of qualified medical equipment to fight the epidemic.

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