Binhu district in Wuxi, Jiangsu province. [Photo/WeChat account: wxbhfb]

Binhu district in Wuxi, East China's Jiangsu province has been introducing favorable policies and implementing measures to address problems faced by local enterprises in sectors including financial services and real estate.

According to a guideline issued by the district, authorities will provide subsidies to major companies that have experienced dramatic slowdowns and exempt rents for those leasing State-owned properties.

To date, the district has provided over 200 million yuan ($29.83 million) in subsidies and is expected to give out about 100 million yuan in the second half of 2022. It has also rewarded 96 companies that have resumed operations with more than 2.5 million yuan.

A special team responsible for aiding companies with their operations was also set up in Binhu earlier this year. This team has since dealt with 171 issues submitted by local businesses. Each issue was handled within five working days.

Wuxi Longsheng New Energy Technology Co, which is located in Binhu, started construction of a 2-billion-yuan project only 66 days after it signed the agreement. Several government departments, including the Binhu bureau of industry and information technology, the bureau of administrative examination and approval, as well as the bureau of natural resources and planning, have made efforts to ensure the transportation of the company's equipment and goods.

Ni Ming, president of the company, said the services provided by the government have greatly impressed him.