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Shanghai to roll out policies to support economy during COVID battle

SHANGHAI : China's Shanghai on Tuesday said it would roll out policies to help firms cope with a surge in COVID-19 cases in the city, including offering tax refunds, exempting rents and encouraging financial institutions to provide credit support.

Internet platforms will be encouraged to further lower service fees and telecom operators to provide three months worth of free cloud services, for instance, the city government said in a statement on its website.

Subsidy support will be given to companies in the retail and catering industries to send their staff for regular COVID tests, and will also be provided to front-line healthcare personnel and volunteers involved in the city's fight against the pandemic.

(Reporting by Beijing Newsroom and Brenda Goh; Editing by Himani Sarkar)

Source: Reuters
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