The Guizhou Provincial Department of Industry and Information Technology and Guizhou Provincial Finance Bureau recently rolled out a series of measures to help small and medium-sized industrial enterprises in the province recover from the COVID-19 pandemic.
More than 100 million yuan ($14.37 million) in funds will be allocated to support 248 enterprises and projects.
The move is expected to lead to investment of 7.8 billion yuan, employ more than 40,000 people, and achieve an annual output value of 34 billion yuan.
Priority support will be given to industries with blocked industrial chain supply chains, longer shutdowns, more employment opportunities, and larger tax payments.
Also, priority support will be given to start-up enterprises, investment-friendly enterprises, and relevant construction projects.
A one-time subsidy of 300,000 to 500,000 yuan will be given to enterprises with funding shortages according to the progress of the project investment and construction image.
Enterprises that have continued loans will receive a financing discount of 300,000 yuan to 500,000 yuan, according to the actual amount of the enterprise's loans and the LPR of the same period as the standard.
In addition, those declaring enterprises that have no projects under construction or loans will receive a subsidy from 300,000 to 500,000 yuan, based on the growth rate of output value, number of employees, tax contributions, and length of production suspension due to the impact of the epidemic.