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Coronavirus: How Shanghai’s economic development zone is helping SME during this crisis?

Following the 14th press conference held by the Municipal Epidemic Prevention and Control Leading Group (市疫情防控工作小组), the Shanghai Municipal Commission Of Economy and Information (上海市经济和信息化委员会) together with Shanghai’s various industrial economic and development zones have rolled out the 28 policies to help small and medium-sized enterprises overcome difficulties during the coronavirus crisis period.

In order to promote the implementation of 28 “Several Policies and Measures to Support the Stable and Healthy Development of Shanghai’s Epidemic Support Services Enterprises”, various development zones in this city have taken actions to fully support enterprises to fight the coronavirus epidemic, reduce the burden on various types of enterprises, and increase financial resources. Helping enterprises to bail out efforts, do their best to assist enterprises to stabilize their posts, orderly promote the resumption of production and optimization of enterprises, and optimize the business environment for enterprises. The development zones in this city have actively introduced various support measures to send charcoal in the snow to help SMEs to cope with difficulties!

Lingang Group (临港集团)

Lingang Group (临港集团) 新片区

Shanghai Lingang Holdings Co., Ltd. actively participated in the epidemic prevention and control fight, and urgently set up a fund ( 上海临港同舟共济新冠病毒防控专项资金 ) amounting to 20 million yuan to help prevent and control the spread of the coronavirus.

This fund will fully support the national and Shanghai’s efforts to fight the epidemic. At the same time, it will also support and help the production and operation activities of enterprises in the park affected by the epidemic prevention and control. Lingang Group has decided to provide certain rent reduction for commercial customers in the park, helping the park’s merchants to watch and overcome the difficulties together! The rent reduction and exemption objects of the parks are mainly the operating entities that lease supporting commercial properties. The focus is on business service business merchants, such as catering, retail, etc. that are necessary for urban operation, necessary for epidemic prevention and control, necessary for park operation, and whose business performance is greatly affected by the epidemic.

At present, the companies in the parks are mapping out the situation of the parks and community merchants and researching and formulating deductions and exemptions, clarifying the objects of deductions, application procedures, and subsidy methods. The rent reduction period is tentatively not more than one month. Lingang Group allocated a large number of masks and a series of anti-epidemic protection materials. The 上海漕河泾新兴技术开发区发展总公司 allocated CNY 360,000 to purchase a batch of Magnity Electronic‘s thermal cameras to jointly do a good job of epidemic protection in the park.

Minhang Development Zone (闵行开发区)

Minhang Development Zone (闵行开发区)

In order to cope with the impact of the new coronavirus epidemic on the operation of small and medium-sized enterprises, Minhang Development Zone increased the support for enterprise development funds on the basis of a total of 33.75 million enterprise development funds in 2019. It is expected that 40 million funds will be used to support enterprises in 2020. In difficult times, further special reduction and exemption policies will be implemented in accordance with the requirements of Minhang District and the State-owned Assets Supervision and Administration Commission and the Real Estate Group.

Shanghai Pilot Free Trade Zone (上海自贸试验区)

Shanghai Pilot Free Trade Zone (上海自贸试验区)

The Shanghai Pilot Free Trade Zone, in conjunction with the Shanghai Banking and Insurance Industry, introduced a series of measures to strengthen financial support for epidemic prevention and control. Opening green channels to help cross-border mobilization of epidemic prevention resources. In response to the need for cross-border remittances faced by many enterprises in their global procurement of materials, the Shanghai banking industry has taken advantage of cross-border capital allocation and actively assisted in the payment of cross-border procurement of anti-epidemic materials.

Reduce loan interest rates to meet the credit needs of anti-epidemic companies. In response to the emergency funding needs of medical institutions, pharmaceutical and equipment manufacturing and supply companies, construction and construction companies, and material supply, production and transportation companies related to the prevention and control of the epidemic, the Shanghai-based banking industry has increased its special projects in accordance with the principles of special affairs and urgent affairs.

The allocation of credit resources and policies are intensified, special credit scale is reserved, and preferential pricing is provided in terms of loan lending to protect the production and transportation of enterprises, procurement of emergency supplies and other major project funding requirements. In response to the risk protection needs of medical personnel caused by the epidemic, Shanghai Banking Insurance adjusted related credit and claims policies to provide financial services for medical personnel to prevent and control the epidemic.

Shanghai Shibei High-tech Park (上海市市北高新技术服务业园区)

Shanghai Shibei High-tech Park (上海市市北高新技术服务业园区)

Shibei Hi-tech Park responded to the call in time to launch a policy to support small, medium and micro enterprises to fight the impact of the epidemic. For private small, medium and micro enterprises that leased self-owned properties of Beibei High-tech Group (including its subsidiaries) and were affected by the epidemic, the rent was reduced or exempted for one month. For small and medium-sized enterprises that have closed their businesses and closed or closed their operations in accordance with government requirements without layoffs or fewer layoffs; catering enterprises serving park employees; and private small, medium and micro enterprises that have made special contributions in the fight against the epidemic, on a one-month basis, It will be appropriately relaxed; small and micro enterprises and start-ups settled in the Junengwan incubator of the park will be given a moderate delay in paying rents.

Baoshan Industrial Park ( 宝山工业园区 )

Baoshan Industrial Park ( 宝山工业园区 )

Baoshan Industrial Park will reduce rent for one month for state-owned platforms. In addition, the park actively negotiates with private development entities to jointly develop policies for SMEs. The park follows and implements, guides and assists small and medium-sized enterprises to carry out production, research and development, and technological transformation, and conducts research and development of new products, expansion of production and capacity, and transformation and production of epidemic prevention and control materials. The park also arranged a special fund of 2 million yuan to centrally purchase infrared thermometers, ear thermometers, medical masks and disinfectants, which were set in place and distributed to enterprises in batches, which greatly alleviated the shortage of epidemic prevention materials.

Chongming Industrial Zone (崇明工业区)

Chongming Industrial Zone (崇明工业区)

While preparing for the resumption of work and preventing coronavirus epidemics, the industrial zone is also struggling with the difficult needs of the company. Now it has helped four companies to resume work in advance. In addition, it will provide three months of rent reduction to half of the rented companies in the park.

The University of Shanghai for Science and Technology (上海理工大学科技园)

University of Shanghai for Science and Technology (上海理工大学科技园)

The coronavirus epidemic situation and delayed resumption of work have caused a certain impact on the normal operation of the leasing enterprises in the park. To this end, the Science and Technology Park has specially formulated a plan and implementation process for reducing or exempting some rents of leasing enterprises in the park, and further developed incubators and entrepreneurial enterprises in the customer space. Some measures for a rent reduction and exemption were given to give more support and help to startups. The plan and implementation process of part of the rent reduction and exemption. After the plan is approved, the service personnel of the park will notify the start-up enterprises to submit the rent reduction exemption application as soon as possible, and follow the process to confirm the rent reduction exemption as soon as possible.

Source: 【快讯】雪中送炭,共克疫情 上海各开发区积极落实28条政策助力中小企业共渡难关 | Shanghai Municipal Commission Of Economy and Information 上海市经济和信息化委员会

Translated by: SSII