SMEs in Guanshanhu district get funding

The Guanshanhu district in Guiyang city recently released a series of measures to help micro, small and medium-sized enterprises -- as well as individual businesses that are affected by the novel coronavirus epidemic -- according to local officials.

The district in Southwest China's Guizhou province has given the first tranche of financial support totaling 15 million yuan ($2.16 million).

The funding went to 30 micro, small and medium-sized enterprises as well as individual businesses on March 5, to help address difficulties that they are facing because of the outbreak.

Officials said that the district planned to arrange subsidies totaling more than 85 million yuan, which will be allocated in four tranches.

Enterprises and individual businesses which were shut down or ran into trouble due to the epidemic outbreak can apply for help.

The first batch of funding reportedly was geared to private medical enterprises, cultural and sports tourism enterprises, individual businesses and startups.

Luo Yi, member of the Standing Committee of Guanshanhu CPC District Committee, said more should be done.

He said that related departments should do more to enable more enterprises and individual businesses to benefit from the favorable policies, as well as promote the smooth development of the economy and society during the epidemic.

Zhao Yandi contributed to the story