Jiading district, Shanghai recently rolled out a series of preferential policies to help small and medium-sized companies overcome setbacks caused by the outbreak of the novel coronavirus pneumonia.

Financial institutions are encouraged to issue loans to companies with up to a 50 percent discount on interest rates. They will also open green channels to speed up examination and approval processes for loan applications.

Companies pursuing technical transformation during the outbreak will receive subsidies for their investments and equipment rental costs, and those focusing on the production of medical supplies for epidemic prevention and control can make use of green channels to overcome various obstacles.

Rent allowances will help companies attract and retain talent during the outbreak. For example, 1,000 people will be able to enjoy 800 yuan ($115) per month in subsidies for three months.

In addition, employees who recently returned to Shanghai and stayed in their leased houses for a 14-day quarantine period are eligible for a one-off rent subsidy.

Companies that do not lay off employees during the outbreak will receive a 50 percent refund on unemployment insurance they paid out in 2019.

An allowance covering 95-percent of training expenses will also be given to companies who offer online vocational training to employees.

The period for paying employee social security funds will be postponed for three months, beginning on July 1 this year and ending on June 30 next year. Companies who miss the deadline for paying employee social security funds during the outbreak will not be fined and employee rights and interests will not be affected if they report their circumstances to their local social security bureau.

Companies will also be allowed to delay the payment of taxes for up to three months.

Companies who rent State-owned or collectively-owned properties can have their rent reduced for one month and halved for two months. Landlords are also encouraged to reduce or waive rent for companies.

Online and offline consultation services on epidemic prevention and control are always available, as are legal consultation services related to companies' rights and interests.

The administrative service center in Jiading during the outbreak [Photo/jiading.gov.cn]