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  • Highlights of the press conference in Zhengzhou
    Source:Where Zhengzhou  Date:5/31/2022  

    On May 29th, the Zhengzhou Municipal People's Government held a press conference on the coordination of Covid-19 response and economic and social development in Zhengzhou, releasing specific measures and arrangements for strengthening regular Covid-19 prevention and control and stabilizing economic development. Let's recap the highlights together. 

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    Economic situation

    01

    Zhengzhou's economy has been stable overall and making steady progress. The number of market players has continued to grow to 1.611 million, up 21.1%, with an increase of 131,000 since the beginning of this year, rising 13.3% year-on-year.

    02

    Employment remains stable, creating 55,000 new urban jobs, achieving about 42.4% of the annual target.

    03

    Prices have risen moderately, with consumer prices up 0.7% year-on-year and livestock and meat prices down 24.2% year-on-year.

    04

    The added value of industrial enterprises above the designated size (an annual income reaching 20 million yuan or above) in Zhengzhou has increased by 6.7% year-on-year, 2.7 and 0.7 percentage points higher than the national and provincial average, respectively.


    Anti-pandemic efforts

    01

    As of 5:30 a.m. on May 29th, the nucleic acid test results of all the residents in 8 urban districts and key groups in the city area who were sampled on May 28th have come out and were all negative.

    02

    Nucleic acid sampling and testing will be conducted once every two days in the main urban area of Zhengzhou starting June 1st.

    03

    One COVID sampling booth is set up for every 2,000 residents in the main urban area of Zhengzhou and for every 3,000 residents in each county-level city.

    04

    All venues in Zhengzhou shall be equipped with a site code before May 31st. For shopping malls, supermarkets, hotels, office buildings and other places with multiple entrances, there should be a site code at each entrance and each store.

    05

    Non-interprovincial transport vehicles will no longer be inspected; those from low-risk areas outside the province can be released with a green health code and a 48-hour negative nucleic acid test certificate, with no need to scan the site code.
     


    Relief outcomes

    01

    This year, Zhengzhou's social insurance system continues to implement a range of phased and combined policies to stabilize employment and ensure people's living standards. It is estimated to benefit 253,000 enterprises and 3.13 million employees, affecting nearly 3.2 billion yuan in social insurance premiums through the reduction in the insurance rate, deferment of the due date, reimbursement of unemployment insurance, and provision of subsidies for skill training.

    02

    For self-employed businessmen and flexible employees from all walks of life who pay their basic endowment insurance as individual employees but have difficulty paying the premiums for 2022, the due date can be extended until the end of 2023.

    03

    The government encourages financial institutions to strengthen support for micro, small and medium-sized enterprises, individual business owners, truck drivers and other groups by extending the due date for loans as long as possible, but no later than the end of 2022.

    04

    For those who are hospitalized or quarantined for observation or who have lost their source of income due to the pandemic, financial institutions are encouraged to make flexible and reasonable deferments for repayment of personal housing and consumption loans by, for example, the extension of the repayment period and the deferral of principal repayment. The loan repayment shall be deferred based on substantive risk judgments, without degrading lending risk, affecting credit scores, or interest penalties.

    Financial support

    01

    Major manufacturing projects will be given differentiated interest subsidies. For projects with a total investment of more than 1 billion yuan and an actual fixed-asset investment of not less than 500 million yuan within one year after the start of construction, the interest subsidies will be 30% of the benchmark lending rate of banks for the same period for one year, up to 10 million yuan.

    02

    For projects with a total investment of more than 2 billion yuan and an actual fixed-asset investment of not less than 1 billion yuan within one year after the start of construction, the interest rate will be discounted for two years at 30% of the benchmark lending rate of banks for the same period, up to 40 million yuan.

    03

    For technological transformation projects with an investment of more than 5 million yuan, the subsidies will amount to 10% of the investment in project production and technical equipment after they are put into production. Strategic emerging industries will be subsidized by 15%, capped at 10 million yuan.

    04

    For those with registered domiciles in Zhengzhou and that have successfully issued infrastructure REITs products, if their project has been included in the National Development and Reform Commission's reserve project library for infrastructure REITs, 50% of the actual expenditure can be subsidized as the preliminary funds to a maximum of 3 million yuan.


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