CBN丨Shanghai enacts 50-measure post-lockdown action plan

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Hi everyone. I’m Stephanie LI.

大家好，我是主持人李莹亮。

重点提要 

Shanghai takes 50 measures to support economy as city eyes full recovery from COVID-19 from Wednesday；

Hong Kong-Mainland ETF Connect may start in two months.

中国经济要闻

Shanghai authorities on Sunday sent a clear signal of economic stabilisation by rolling out a total of 50 stimulus measures to support the local economy, with a focus on business resumption and employment stabilisation, as the city inches toward a full recovery from the most severe COVID-19 outbreak. 

In terms of production, starting from Wednesday, Shanghai will scrap the work resumption "white list" mechanism and other restrictions on companies that want to restart work or business.

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, stabilising 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 subsidies for non-resident users regarding water, electricity and natural gas fees.

A key part of the action plan is to stabilise foreign investment and trade as well as to accelerate the recovery of consumption and investment.

Shanghai will establish a mechanism to arrange designated personnel to aid work resumption of key foreign-funded enterprises and launch an online service system for major foreign-funded projects. And it will start the application process for special funds to develop the regional headquarters of multinational corporations in Shanghai ahead of schedule in 2022.

The city will gradually reduce the purchase tax on some passenger vehicles as required by national policies. It will also provide subsidies to consumers who replace cars with pure electric ones, and support large commercial enterprises and e-commerce platforms in issuing consumption coupons.

The plan also includes measures related to the real estate industry, including promoting the healthy development of real estate development and investment, and establishing a green channel for approving real estate projects. 

5月29日，上海市政府发布《上海市加快经济恢复和重振行动方案》(以下简称《行动方案》)，50条政策措施聚焦稳外资、促消费、扩投资等多方面内容。

根据《行动方案》，上海将于6月1日起取消企业复工复产审批制度。同时，出台扩大企业防疫和消杀补贴范围、建立长三角产业链供应链互保机制、畅通国内国际物流运输通道等政策措施，支持各行业领域复工复产复市，稳步提高企业达产率。

市场主体方面则着力减负，除减免房租外，上海将对符合条件的企业减免房产税和城镇土地使用税，对非居民用户给予3个月应缴水费、电费、天然气费10%的财政补贴，免收3个月单位生活垃圾处理费等。

在稳外资方面，上海将建立重点外资企业复工复产专员服务机制，启用重大外资项目线上服务系统，提前启动2022年上海市鼓励跨国公司地区总部发展专项资金申报工作，进一步支持跨国公司在沪设立地区总部和外资研发中心，着力稳定外资企业预期和信心。

在促消费方面，上海将以大宗消费为抓手，年内新增非营业性客车牌照额度4万个，按照国家政策要求阶段性减征部分乘用车购置税，对置换纯电动汽车的个人消费者给予一次性10000元补贴，支持大型商贸企业和电商平台发放消费优惠券，支持文创、旅游、体育产业发展，大力促进消费加快恢复。

此外，此次政策明确要促进房地产开发投资健康发展，建立房地产项目前期审批绿色通道，及时启动新一批次市场化新建商品住房项目上市供应，进一步缩短前期开发、拿地、开工、销售全流程时间等。

新使命，大未来

Two mega-kilowatt pumped storage power plants in the Greater Bay Area officially started power generation on May 28, marking the power grid capacity in the GBA leading the world, with the largest installed pumped storage of 9.68 million KW, or twice the electricity capacity of Hainan province. The two pumped storage power plants are constructed by China Southern Power Grid located in Meizhou and Yangjiang in South China's Guangdong Province with a total installed capacity of 2.4 million kilowatts.