COVID-19: Shanghai to lift restrictions for businesses
Covid spread in Shanghai.
Shanghai’s authorities on Monday (May 30) have announced that some of the COVID-19 lockdown measures put on businesses will be eased from Wednesday (June 1). Not just this, the two-month lockdown came to an end allowing the residents in virus-free sections of the city, BBC reported.
These plans have been introduced to help in city’s economy which has been severely harmed as a result of the lockdown restrictions.
Guidelines to manage the spread the of virus and people returning to work will be revised as per the officials.
As per the announcement same, official numbers released on Sunday (May 29) showed the daily covid cases dropping from 170 to 122 cases in 24 hours.
Starting from June 1, the companies would no longer be required to be on ‘whitelist’ to resume their production. The declaration came as the city unveiled a 50-point plan aimed at reviving the city’s economy estimated to be $600 billion (£475 billion).
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Watch |Shanghai inches towards gradual reopening, over 100 bank outlets resume work
New measures included reducing taxes on automobile buyers like drivers who move to electric vehicles will be eligible for a $1,500 payment, speeding up the issuance of local government bonds, as well as the approval of construction projects.
Car manufacturers like Tesla and Volkswagen have been particularly suffered due to the covid restrictions.
Additional assistance for businesses will be included the ability to postpone insurance and pay rents along with utility bill discounts.
This year, banks will be required to extend $15 billion in loans to small and medium sized businesses. At this same time, vouchers will be distributed to assist stores and e-commerce platforms notably in cultural, fitness and tourism sectors.
Shopping malls and other venues have been allowed to open in some areas of the city.
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(With inputs from agencies)