On June 5, the Office of Shenyang Municipal People's Government issued the "Measures for Shenyang to implement the implementation of a package of detailed policy measures to further stabilize the economy of the State Council and Liaoning Province". Shenyang introduced 50 policy initiatives around seven aspects, such as playing the role of fiscal policy to stabilize economic growth, enhancing the ability of financial services to the real economy, ensuring the stability of the industrial chain and supply chain, actively expanding effective investment, promoting consumption to speed up the recovery, ensuring food and energy security and effectively protecting and improving people's livelihood.

In playing the role of fiscal policy to stabilize economic growth, Shenyang will further increase the efforts of value-added tax credit refund policies, accelerate the progress of fiscal expenditure, actively seek support from local government special bonds, make good use of governmental financing guarantee policy, and increase government procurement to support small and medium-sized enterprises.

In terms of enhancing financial services to the real economy, Shenyang will guide financial institutions to implement differentiated financial services, and implement deferred debt repayment and interest payment measures for small, medium and micro enterprises and individual industrial and commercial businesses, truck drivers' loans, and personal housing and consumer loans affected by the epidemic. Shenyang will also increase the support of discount interest policy of start-up guarantee loan. For small and micro enterprises applying for discount interest of start-up guarantee loan for the first time, discount interest will be given in the first year and the second year respectively according to the loan interest rate stipulated by the policy of 100 percent and 50 percent, and eligible new citizens will be included in the discount support range of start-up guarantee loan. Shenyang will focus on providing more support to small and micro businesses and individual businesses in the transportation, catering, accommodation and tourism industries that are disproportionately affected by the epidemic to help stabilize their businesses. Shenyang will also increase support for small and medium-sized loans for the general public, continue to promote a steady decline in real loan interest rates, improve the efficiency of capital market financing, and increase the support of financial institutions for the construction of major projects.

Shenyang will ensure the stability of the industrial chain and supply chain by promoting enterprises to resume work at a faster pace, supporting the development of all kinds of manufacturing enterprises, supporting and strengthening "specialized and innovative" enterprises, supporting the accelerated development of digital economy and integrated circuit industry, and supporting enterprises' technological innovation. Shenyang will actively expand the effective investment, speed up the construction of transportation infrastructure, strengthen the construction of water conservancy projects, accelerate the urban renewal and so on. Shenyang will also carry out a series activities to promote consumption, accelerate the recovery of consumption, increase support to stabilize the employment of people, improve social livelihood underwriting measures to protect and improve people's livelihood.

Reporter Qiu Ju