25 Lin-gang firms receive the first outbreak subsidies
Lin-gang Special Area distributed the first batch of epidemic prevention and control policy subsidies to 25 companies including hotels, restaurants, supermarkets and educational institutions on Feb 20.
The investment promotion service center of Lin-gang Special Area received 161 enterprises and 262 applications for subsidies by Feb 20, with applications starting on Feb 16.
Among the enterprises, 51 have submitted the complete materials, 25 have received the subsidy payment, and 26 are in urgent processing.
The audit and release of this payment follow two principles. The first is giving priority to enterprises seriously affected by the novel coronavirus epidemic. The second is compressing the workflow and shortening the payment time. The company which received the disease subsidy the fastest received it in the afternoon after applying in the morning.
KINGTOP Ceramics rents four shops in the special area, whose annual rental is about 1 million yuan ($14.22 million). After the outbreak of the epidemic, the store rent and the labor costs for 12 employees were still being paid.
"We submitted complete information on Tuesday, and received the epidemic subsidy from Lin-gang Special Area on Wednesday," said Chen Rui, a senior manager at KINGTOP Ceramics Shanghai operation center.
The company received a subsidy of 50 percent of shop rental for February and March. The subsidy includes nine application directions: supporting production and supplying enterprises with funds for epidemic prevention materials to expand capacity, supporting enterprises in tackling key problems in science and technology, subsidizing key businesses, building rent, increasing the interest discount on loans, increasing financial support for credit risk compensation, special funds for assistance, online vocational training subsidies for enterprise employees during the epidemic, enterprise online recruitment rewards during the epidemic, and a one-time subsidy for epidemic isolation rental.
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