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Yangquan issues 20 measures to revive service industry

Updated: 2023-01-12

Yangquan in North China's Shanxi province rolled out a series of measures to accelerate the revival of the local service industry, according to a recent circular by local authorities. 

The circular regulates 20 measures covering aspects such as boosting consumption, strengthening financial support, and exempting, reducing or postponing taxation and fees. 

Yangquan will promote the full resumption of production of enterprises in the transportation, commercial circulation, accommodation and catering, culture and tourism industries. 

The city will encourage local State-owned and State-controlled A-rated scenic spots to offer free first-admission tickets and provide them with 40 percent ticket price subsidies until June 30.

It will extend the verification time for the second phase of digital consumption vouchers in 2022 to the end of February and encourage local counties and districts to further increase the issuance of digital consumption vouchers. 

Municipal guarantee institutions will reduce the guarantee rate for retail, accommodation, catering, and cultural tourism businesses that are affected by the COVID-19 epidemic to 0.5 percent, and for a single business not exceeding 5 million yuan ($740,196.59), the payment of the guarantee fee can be deferred half a year until the end of June. 

For small and micro-sized enterprises and individual industrial and commercial businesses in the service industry that lease State-owned assets for business use, rent from November 2022 to February 2023 will be reduced or exempted.

Enterprises experiencing difficulties in 17 industries, such as catering, retail, tourism, and transport, can apply for deferred payment of endowment insurance and unemployment insurance until the end of 2022 and the end of March 2023, respectively.