Government and institution measures in response to COVID-19.
Government and institution measures in response to COVID-19.
Return to homepage | Last updated: 17 Jun, 2020
In addition, a wide range of policy measures have been announced for SMEs at the regional level in China. These include deferred tax payments for SMEs, reducing rent, waiving of administrative fees, subsidizing R&D costs for SMEs, social insurance subsidies, subsidies for training and purchasing teleworking services, and lowering lending rates. Furthermore, banks are being granted extra funding to spur SME loans.
Click here to see a comprehensive summary of jurisdictional tax measures and government reliefs in response to COVID-19.
Trade restrictions
The People's Bank Of China, 3rd of February, 2020
The People's Bank Of China 10th of February, 2020
The People's Bank Of China, 17th of February, 2020
The state council executive meeting, 18th of February, 2020
The People's Bank Of China(PBOC) 20th of February, 2020
Cuts on required reserve ratio
Customs clearance
Duty relief
Deferred tax payments
Processing trade and others
State Administration of Taxation, 11th of February, 2020
The Ministry of Finance of PRC
Main sources of information
Tax: Christopher Xing - christopher.xing@kpmg.com
Restructuring: Wilson Pang – wilson.pang@kpmg.com
Legal: Paula Yu – paula.yu@kpmglegal.com.cn