{"id":5395,"date":"2022-04-18T11:43:46","date_gmt":"2022-04-18T11:43:46","guid":{"rendered":"https:\/\/www.elitestage.cn\/?p=5395"},"modified":"2023-03-29T11:10:00","modified_gmt":"2023-03-29T11:10:00","slug":"how-do-smallest-businesses-survive-omicron-lockdowns","status":"publish","type":"post","link":"https:\/\/www.elitestage.cn\/de\/how-do-smallest-businesses-survive-omicron-lockdowns\/","title":{"rendered":"How Do Smallest Businesses Survive Omicron Lockdowns?"},"content":{"rendered":"<section>\n<section>\n<section>\n<section>\n<section><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-5396\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1.jpg\" alt=\"\" width=\"1080\" height=\"673\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1.jpg 1080w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1-300x187.jpg 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1-1024x638.jpg 1024w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1-768x479.jpg 768w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1-16x10.jpg 16w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1-80x50.jpg 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1-620x386.jpg 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1-460x287.jpg 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest1-365x227.jpg 365w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><strong>Beijing<\/strong>\u00a0has rolled out tax relief and other beneficial policies such as more favourable loan rates and rent exemptions, rather than cash handoutsSome Omicron-hit regions such as\u00a0<strong>Shanghai and Tianjin<\/strong>\u00a0are also implementing local support measures, but analysts still expect a big hit to consumption&nbsp;<\/p>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section><strong>Beijing<\/strong>\u00a0says it has<strong>\u00a0stepped up relief measures<\/strong>\u00a0for coronavirus-hit businesses, as the highly contagious Omicron variant has spread to 28 of the country&#8217;s 31 provincial jurisdictions and authorities stick to their zero-Covid strategy that involves large-scale lockdowns and mass testing.<\/section>\n<section>In addition to a planned\u00a0<strong>2.5 trillion yuan tax cut<\/strong>, authorities have also rolled out a variety of supportive measures, including rent exemption and credit support.<\/section>\n<section>\n<section><img decoding=\"async\" class=\"alignnone size-full wp-image-5397\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2.jpg\" alt=\"\" width=\"800\" height=\"533\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2.jpg 800w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2-300x200.jpg 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2-768x512.jpg 768w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2-16x12.jpg 16w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2-150x100.jpg 150w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2-80x53.jpg 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2-620x413.jpg 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2-460x306.jpg 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest2-365x243.jpg 365w\" sizes=\"(max-width: 800px) 100vw, 800px\" loading=\"lazy\" \/><\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>\n<section>\n<section>\n<section><strong>Relief packages announced so far<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>\n<section>Premier Li Keqiang announced the\u00a0<strong>2.5 trillion yuan tax-cut package\u00a0<\/strong>at the \u201ctwo sessions\u201d in early March, and it is considerably larger than last year&#8217;s 1.1 trillion yuan.<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>\n<section>\n<section>\n<section><strong>Key points<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>\n<section><\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section><\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section><img decoding=\"async\" class=\"alignnone size-full wp-image-5398\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3.jpg\" alt=\"\" width=\"720\" height=\"720\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3.jpg 720w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3-300x300.jpg 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3-150x150.jpg 150w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3-12x12.jpg 12w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3-80x80.jpg 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3-620x620.jpg 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3-460x460.jpg 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest3-365x365.jpg 365w\" sizes=\"(max-width: 720px) 100vw, 720px\" loading=\"lazy\" \/><\/section>\n<\/section>\n<section><\/section>\n<section>Value-added tax (VAT) will continue to be exempted for small taxpayers \u2013 those with monthly sales revenue of\u00a0<strong>below 150,000 yuan<\/strong>Income tax will be halved if annual payment is\u00a0<strong>between 1 million and 3 million yuan<\/strong><strong>1.5 trillion yuan<\/strong>\u00a0worth of VAT refunds planned for this year<\/p>\n<p>Local governments will be encouraged to provide preferential power tariffs<\/p>\n<p>Internet platform companies will be encouraged to\u00a0<strong>reduce charges<\/strong>\u00a0on small businesses that rely on the platforms<\/p>\n<p>Various charges and other administrative fees will also be cut, and that could include money paid to government-backed trade associations, or port-management fees<\/p>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5399\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4.png\" alt=\"\" width=\"1080\" height=\"720\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4.png 1080w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-300x200.png 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-1024x683.png 1024w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-768x512.png 768w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-16x12.png 16w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-150x100.png 150w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-80x53.png 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-620x413.png 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-460x307.png 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest4-365x243.png 365w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/section>\n<\/section>\n<section>The State-owned Asset Supervision and Administration Commission also said in March that\u00a0small businesses and self-employed businesses who rent offices from central-government-owned enterprises will be exempt from rental payments for three months, while those in regions that are at greater risk to the coronavirus will be exempt for six months.Some pandemic-hit regions have also released their respective\u00a0<strong>supportive measures<\/strong>.<\/section>\n<section><\/section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section>\n<section>Shanghai, a financial hub with 25 million people, last month offered\u00a0<strong>140 billion yuan<\/strong>\u00a0worth of<strong>\u00a0tax incentives and low-interest bridging loans<\/strong>\u00a0to help businesses survive the city&#8217;s phased lockdown to contain the Omicron variant of the coronavirus.<\/section>\n<\/section>\n<section>\n<section><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5400\" src=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5.png\" alt=\"\" width=\"1080\" height=\"613\" srcset=\"https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5.png 1080w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5-300x170.png 300w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5-1024x581.png 1024w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5-768x436.png 768w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5-16x9.png 16w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5-80x45.png 80w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5-620x352.png 620w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5-460x261.png 460w, https:\/\/www.elitestage.cn\/wp-content\/uploads\/2022\/04\/Smallest5-365x207.png 365w\" sizes=\"(max-width: 1080px) 100vw, 1080px\" \/><\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>Tianjin, a port city about 100km east of Beijing, announced that\u00a0<strong>VAT will be exempt for public transport firms\u00a0<\/strong>this year;\u00a0<strong>property tax<\/strong>\u00a0will be exempt for farm produce wholesalers; and its small and medium-sized manufacturers will be allowed to\u00a0<strong>postpone their tax payments<\/strong>\u00a0from the fourth quarter of 2021 and first quarter of this year. And Tianjin has pledged to\u00a0<strong>fast-track loan approvals<\/strong>\u00a0for small and self-employed businesses.<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section><\/section>\n<\/section>\n<\/section>\n<\/section>\n<section>\n<section>\n<section>\n<section>\u00a0<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>\n<section>\n<section>\n<section><strong>Who is eligible for the tax cuts?<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<section><\/section>\n<section>\n<section>\n<section>A vast majority of the planned measures target small and micro-sized businesses, as well as self-employed people, showing how Beijing is putting emphasis on employment and social stability in the lead-up to a leadership reshuffle later this year.At an executive meeting of the State Council in March, China&#8217;s cabinet indicated that about\u00a0<strong>1 trillion yuan<\/strong>\u00a0worth of tax cuts would apply to small and micro-sized firms.As they are most vulnerable to the impact of lockdown, the cabinet has ordered the\u00a0<strong>VAT refund<\/strong>\u00a0for small and micro enterprises to be completed before the end of June, and has pushed forward<strong>\u00a0rent exemptions<\/strong>\u00a0for state-owned properties.Sectors dealing with manufacturing; research and technology services; ecological protection; power and gas; and transport will also receive VAT refunds, regardless of their ownership. However, this will mainly take place in the July-December period.<\/p>\n<\/section>\n<\/section>\n<\/section>\n<section><em>Source: South China Morning Post<\/em><\/section>","protected":false},"excerpt":{"rendered":"<p class=\"tx-excerpt\">Beijing\u00a0has rolled out tax relief and other beneficial policies such as more favourable loan rates and rent exemptions, rather than cash handoutsSome Omicron-hit regions such as\u00a0Shanghai and Tianjin\u00a0are also implementing local support measures, but analysts...<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-5395","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Do Smallest Businesses Survive Omicron Lockdowns? 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