Shanghai opens up offices
Shanghai opens up
The offices in Shanghai have opened up after two months of complete lockdown. Shanghai, is the economic hub of the country and saw a huge decline in economy in the last two months due to the restrictions because of rising Covid 19 cases.
From June 1st the business also doesn't need to take any sort of permission, an official said to Reuters.
The city is planning to have regulations in place to curb down Covid cases as well as boost the economy.
The small businesses will get loans and financial support from the government to revive business. The action plan will consist of 50 economic policies. The real estate projects are also supposed to green signal and resume the industry.
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A 10,000 yuan subsidy will also be granted to people looking to switch to an electric vehicle.
The taxes on purchase of electric vehicles will be reduced. Even in 2021, to boost the economy the passenger number plates were increased to 135,000. This year they have increased to 40,000.
The authorities will be taking care of the companies that have been impacted by providing subsidies and giving them more time for insurance and rent deposit.
The industries impacted the most, like e- commerce, cultural, tourism etc will be given handout vouchers.
According to a report by Reuters, "In short, we will do our best to help all kinds of enterprises... and work together to restore and revitalize Shanghai's economy," said Wu.
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