State Planning Authority Issues Measures to Support Recovery of China’s Services Sector

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The National Development and Reform Commission (NDRC) has issued new measures to help those parts of the services sector left hard hit by the COVID-19 pandemic.

On 18 February NDRC led the release of the “Several Policies on Expediting the Recovery and Development of Troubled Sectors in the Services Sphere” (关于促进服务业领域困难行业恢复发展的若干政策) in conjunction with more than a dozen other central government authorities.

The Policies encompass 43 measures across three areas, with the goal of “helping the services sector transition through difficulty.”

“The focus of the service sector policy measures is directed at the unique challenges they face, and actively responding to the calls and concerns of market entities,” said NDRC chief secretary Zhao Chenxin (赵辰昕).

“[We will] pragmatically alleviate the cost pressures on services sector market actors, help enterprises to recover and grow, and maintain the stable operation of the services sector throughout the entire year.”

Key measures include extending tax policies such as value added tax concessions, as well as providing exemptions for six months rent to small businesses in the services sector operating out of state-owned properties, if they are situated in Chinese administrative regions that are designated as medium-to-high risk zones for COVID-19.