Shanghai announces action plan for economic recovery

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Shanghai announces action plan for economic recovery

STORY: Shanghai announces action plan for economic recovery DATELINE: May 29, 2022 LENGTH: 00:02:04 LOCATION: SHANGHAI, China CATEGORY: ECONOMY SHOTLIST: 1. various of the press conference 2. various of Shanghai city STORYLINE: To coordinate COVID-19 control with economic development, the municipal government of Shanghai on Sunday launched an action plan to speed up economic recovery. Under the plan, composed of 50 policies and measures, the city's approval system for production resumption will be abandoned starting June 1, Shanghai's deputy mayor Wu Qing told a press conference. At the same time, the city will promote work resumption in all sectors by expanding the scope of subsidies for enterprises' epidemic prevention and disinfection, stabilizing industrial and supply chains in the Yangtze River Delta, and smoothing domestic and international logistics and transportation channels. The city will reduce rent, property tax and urban land use tax for qualified enterprises. It will also grant su

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