Liangjiang issues 2.24b yuan in funds to boost development

During the first three quarters of the year, Liangjiang New Area in Southwest China's Chongqing municipality issued 21 million yuan ($3.17 million) of central government level funds to major companies and 2.24 billion yuan of district level funds for industrial development.

Liangjiang's manufacturing, service, finance and technology innovation areas benefited from the funds.

To help companies to stay in business during the COVID-19 epidemic, Liangjiang launched policies to reduce fees and taxes.

One example of this was Fuyao Glass Industry Group Co, whose Chongqing branch saved 5.53 million yuan of value added tax during the nine-month period, thanks to the lower taxes.

In the wake of the preferential policies, 14,101 market entities were added in Liangjiang from January to September, a year-on-year increase of 24.72 percent.

In the year to date, Liangjiang has issued 8.23 million yuan worth of anti-epidemic subsidies to 136 manufacturing companies and nine service companies, issued 4.79 million yuan in municipal-level funds to small and medium-sized companies facing difficulties and helped two companies apply for financing guarantees.

In order to boost the recovery of its tourism and commerce industries, Liangjiang provided 900,000 yuan in funds for large-scale supermarkets, organized shopping festivals and issued 19 million yuan in discount coupons that can be used in shops, hotels, restaurants and to travel.

Statistics showed that in the first three quarters of this year, Liangjiang's total retail sales reached 42.83 billion yuan.