The authorities of Shanghai Many conditions will be lifted for businesses to reopen from Wednesday, an official said, easing a citywide lockdown that began about two months ago, and policies will also be introduced to support its ailing economy.
Shanghai, the commercial center of Chinasaw a broad decline in its economy last month, while outbreaks of Covid-19 caused strict restrictions and confinements, affecting everything from manufacturing to retail sales and the real estate sector.
Now, the city government will review guidelines for epidemic prevention and return-to-work control, lift “unreasonable restrictions” on business resumption of work and production, Vice Mayor Wu Qing said at a conference. of press.
As of June 1, companies will no longer have to request the resumption of tasks, the official said, without detailing what other restrictions have been lifted.
The municipal authorities also announced a action plan -consisting of 50 measures- to boost the economy, aimed at helping businesses and promoting consumption.
Among them are the emission acceleration and the use of local public debtthe request to banks to renew loans to small and medium-sized enterprises and the establishment of a green channel for the approval of real estate projects.
In addition, the authorities will try to help companies affected by the confinement by allowing them to delay the payment of insurance and rent, as well as offering subsidies on their utility bills.
These measures, combined with others launched in late March, are expected to reduce the financial burden of more than 300 billion yuan from the pandemic on market players throughout the year, said Hua Yuan, deputy secretary. General of the Shanghai Municipal Government