China Covid: capital Beijing unveils 12-point plan to ‘prop up’ economy
- Beijing has released a 12-point guideline that aims to ‘maximally reduce’ Covid-19’s effect on socio-economic development and the economy
- The measures range from cutting operational costs for companies to stabilising supply chains, as well as supporting employment and tax breaks
Beijing is rolling out support measures to relieve strain on the city’s economy as the Chinese capital grapples with surging coronavirus cases and disruption to business.
The measures range from cutting operational costs for companies to stabilising supply chains and supporting employment.
The city released a 12-point plan on Tuesday that aims to “maximally reduce Covid’s effect on socio-economic development, help the market solve difficulties, [and] prop up the economy”.
02:19
Beijing begins to ease Covid rules, but business areas remain deserted
Under the plan, authorities are trying to jump start the economy through tax cuts and loan repayment extensions for small- and medium-sized enterprises. Deadlines for social security payments will also be delayed.
