Xi'an High-tech Industries Development Zone (XHTZ) rolled out a policy package to stabilize the economy on May 29 in an effort to minimize the impact of the COVID-19 pandemic on XHTZ's economic and social development.

The policies, executed from the date of publication, and are valid until Dec 31.

XHTZ rolls out a policy package to stabilize its economy. [Photo/Xi'an municipal government's WeChat account]

Eligible small and micro enterprises in XHTZ can apply to the relevant tax authorities for a refund of incremental tax credits on a monthly basis starting from the tax filing period in April 2022.

Enterprises facing temporary production and operation difficulties in the first quarter of 2022 and unable to pay social insurance premiums in full can apply for a deferral of payment of work-related injury insurance premiums and unemployment insurance premiums for a period of no more than six months.

XHTZ boasts a favorable business environment for investors. [Photo/Xi'an municipal government's WeChat account]

The time limit for pre-examination of investment projects will be further reduced to 12 working days.

Also, for socially invested industrial and people's livelihood investment projects, the fixed asset investment incentive policy subsidy ratio will be increased by 200 percent; for industrial projects starting construction in 2022, a one-time subsidy of 50,000 yuan will be given.

Travel agencies in XHTZ will be encouraged to launch tourism products such as ecological research and study tours and health care tours. From April to December 2022, those who receive tourists that register and stay in hotels above a designated size in XHTZ will be subsidized at a rate of 25 yuan per person, with a maximum of 100,000 yuan per hotel.

 Other policies and measures also include strengthening food security support, ensuring employment, and stabilizing industrial chains.

An aerial view of XHTZ. [Photo/Xi'an municipal government's WeChat account]