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Zhangjiagang moves to vitalize market entities



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The local government of Zhangjiagang, a county-level city in Suzhou, East China's Jiangsu province on March 7 released an action plan featuring 28 measures to bolster its market entities and ensure their stable operations.

According to the action plan, taxpayers related to industries that have been severely disrupted by the pandemic, such as catering, accommodation, entertainment, transportation, tourism, retail, and warehouse, will be exempted from property as well as urban and township land-use taxes this year.

In addition, to stimulate consumption of cultural, tourism and sport-related products, the city will distribute 20,000 coupons in the first half of 2022. Passenger buses that pass a toll gate more than 30 times a month will receive a 15 percent discount.

Industrial parks that provide small and medium-sized enterprises with rent-free spaces will receive subsidies from the Zhangjiagang government. Manufacturing and trade companies that complete technological improvement will stand to receive subsidies while financial institutions have been encouraged to provide unsecured low-interest loans to these companies.

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