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February 27, 2020

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Central measures to bail out firms

CHINESE authorities have rolled out multiple measures to help enterprises weather the storm as the country put on hold all public art, cultural and tourism activities due to the novel coronavirus outbreak, an official said in Beijing yesterday.

The Ministry of Culture and Tourism has worked with other authorities to bail out these enterprises, offering special funds, favorable financial policies, tax exemption, cost-reducing measures and better administrative services, Liu Kezhi, a ministry official, said at a press conference.

The ministry has also worked with the National Development and Reform Commission to earmark nearly 3.34 billion yuan (US$475.98 million) in the central government budget for investment to support 343 projects of tourism infrastructure and public-service facilities, according to Liu.


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