RsA Asia Incentive Policies China Guide 2022
RsA Asia has recently published a guide providing a comprehensive list of the incentive policies in China for 2022.
The Chinese Central Government has issued several policies and measures to fight the epidemic and to help enterprises promote development at a national level. Said policies are aimed at providing supporting measures and subsidies to enterprises and individuals greatly affected by the epidemic in 2022, with a particular focus on the Municipality of Shanghai. Shanghai, in this sense, has seen an unprecedented negative impact due to the recent epidemic, and has introduced policies and measures that may be divided into the following six main areas:
Support personnel and enterprises directly involved in the fight against the epidemic and in implementing measures for prevention and control;
Reduce costs and taxes burden incurred by enterprises through implementing relief and supporting policies in VAT refund, tax and fees reduction, tax deferral and rental reduction or exemption;
Increase financial support to enterprises affected by the epidemic by reducing financing costs and commission fees and strengthening guarantees;
Assist enterprises in stabilizing their headcount and not laying off employees by reducing social security rates, implementing policies to stabilize and expand jobs, and developing new employment forms;
Support recovery and development of hard hit industries, with focus on catering, retail, tourism, transportation, and exhibition industries (in service sector);
Stabilize business and life in the Municipality by ensuring the smooth operation and living conditions during the epidemic.
The relevant departments of the central and local authorities will be responsible for the actual implementation and the issuance of the rules and guidelines for the above policies, which will be mostly implemented until the end of 2022.
The RsA Asia guide can be downloaded at the link (in English):