VAT exemption for small businesses in Hubei for next three months

The Chinese State Council announced on Tuesday that it will exempt VAT for small businesses in the central China's Hubei Province, at the heart of the coronavirus epidemic, from March to end of May.

The VAT rate in other regions will be reduced from three to one percent. 

The interest rates for loans to small and agriculture businesses will be lowered by 0.25 percent points.