Beijing issues action plan to stimulate business, consumption amid epidemic

Beijing has issued an action plan to gear up business operation and consumption as the COVID-19 epidemic eases in the city.

According to the plan announced by the Beijing Municipal Government on Thursday, the Chinese capital will upgrade its "white list" of key enterprises in line with different classifications and dynamic management. It aims to facilitate the logistics and transportation services for the enterprises that have resumed production.

Tenants in state-owned houses in Beijing have already been informed of applications for rent reduction. For lessees who are science and technology incubators in non-state-owned houses, authorities will subsidize 50 percent of the rent which they reduce or exempt for micro, small and medium-sized enterprises and individual businesses.

Beijing will also promote the recovery of catering, culture, sports and entertainment businesses. Authorities will cooperate with food delivery platform companies to give out vouchers and offer them subsidies to help mitigate the impact of the citywide dine-in service suspension.

In terms of the bulk consumption, Beijing will halve the vehicle purchase tax for passenger cars with a VAT-exclusive price of no more than 300,000 yuan (about $45,000) and an engine of 2.0 liters or less that are purchased between June 1 and December 31 this year.

The plan also said by the end of 2022, those trading in a new energy vehicle in Beijing will receive a subsidy of up to 10,000 yuan.

(Cover photo via CFP)

Source(s): Xinhua News Agency

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