(Photo: Zhang Ruilin)

That was announced by Guangdong Provincial Development and Reform Commission at a press conference held on the afternoon of March 25th.

(Photo: Zhang Ruilin)

"These measures, concerning financial aid, tax exemption, credit financing, and epidemic prevention and control, aim to effectively boost the business confidence of market entities in the service industry and help them gain the resilience during the epidemic," said Huang Huadong, deputy director-general of the Guangdong Provincial Development and Reform Commission.

The 13 inclusive measures mainly focused on tax and fee cuts. A 50% tax exemption will be granted to small-scale taxpayers, micro and small enterprises (MSEs) as well as individual businesses.

For those who operate in areas that were once on the high-risk lists in 2022, they can enjoy a rent reduction for six months. And those in other areas for 3 months.

The 28 targeted measures are for five particular industries that are most affected by the epidemic, including catering, retail, tourism, transportation, and civil aviation.

Re-loan, re-discounts, and inclusive loans to MSEs policies are formulated to give strong financial support to various market entities.

In the meantime, consumption and service vouchers will be given to epidemic-stricken businesses in the catering and retail industries to spur consumer demand.

Furthermore, staff in the two industries will enjoy more than 50% subsidies on regular nucleic acid tests.

Besides, internet-based businesses like takeaway platforms are urged to further reduce service fees for catering enterprises so as to help them lower operation costs.

The other 6 measures are involving epidemic control and prevention. Guangdong will step up its efforts make sure the service industry will not be further affected.

The added value of the service industry in Guangdong accounts for more than 50% of the GDP and the number of people employed also represents over 50% of the province’s total.

Therefore, the service industry plays a very important role in stabilizing growth, ensuring employment, adjusting structure, expanding domestic demand, and improving people's livelihood.

Author | Fanny

Editor | Wing, Nan, Will, Jerry