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After a lockdown of nearly 3 months, Shanghai Municipal People’s Government promulgated 50 new support measures for businesses.1<\/sup> These measures are enacted for the purpose of \u201cpromoting accelerated economic recovery and revitalization in a vigorous and orderly manner<\/em>\u201d. The principal measures are as follows:<\/p>\n (1) Taxes related measures<\/p>\n Tax declaration deadline extended to June 30<\/strong>th<\/sup><\/strong>, 2022<\/strong>,2<\/sup> with possibility to extend another three months<\/strong>.<\/p>\n Enterprises may apply for tax reduction\/exemption on self-use<\/strong> properties\/land when having difficulties in payment, except for enterprises engaging in industries that are restricted or discouraged.<\/p>\n (2) Expanding the scope of rental exemption<\/p>\n State-owned landlords<\/strong>\u00a0shall waive six months\u2019 rental for the following:<\/p>\n Non-state-owned landlords<\/strong> are encouraged to reduce rental for:<\/p>\n and once non-state-owned landlords reduce rental, they can obtain a subsidy from government amounting to 30%<\/strong> of the total rental waived, capped at RMB 3 million<\/strong>.<\/p>\n (3) Reducing multiple enterprises\u2019 operating charges<\/p>\n (4) Granting subsidies for stabilizing employment<\/p>\n A one-off employment stabilizing subsidy of 600 yuan<\/strong> per employee, capped at 3 million yuan<\/strong> per enterprise shall be granted to enterprises who meet the following conditions:<\/p>\n Should you need any details about the said new support measures, please kindly reach asialians@asiallians.com<\/a><\/p>\n https:\/\/www.shanghai.gov.cn\/nw12344\/20220529\/c931ca8e68cd434293e122204c61ecc8.html<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n <\/p><\/blockquote>\n [\/vc_column_text][vc_separator type=”transparent” thickness=”50″][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern”][vc_column][vc_column_text]<\/p>\n [\/vc_column_text][vc_column_text]On April 7th<\/sup>, 2022, the State Council issued the Decision on Revising and Repealing Some Administrative Regulations, indicating that the Administrative Provisions on Foreign-Invested Telecommunications Enterprises (Revised in 2022) took effect on May 1st<\/sup>, 2022.<\/p>\n Compared to previous 2016 edition, many restrictions are lifted for foreign investors and the principal changes are as follows:<\/p>\n (1) The proportion of capital contributed by foreign investors in an enterprise engaging in basic telecommunications services5<\/sup> shall not ultimately exceed\u00a049% <\/strong>instead of the previous \u201c50%\u201d;<\/p>\n (2) For foreign investors operating value-added telecommunications business, the examination of their application documents shall be completed within\u00a060\u00a0days<\/strong> instead of the previous 90 days by the competent department from acceptance of the application;<\/p>\n (3) Previously, foreign investors shall prove that they have a good performance and operating experience in telecommunications businesses; This requirement has been removed.<\/p>\n Should you need to know more details about the newly added industries, please kindly contact asiallians@asiallians.com<\/a><\/p>\n\n
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2. FDI: Administrative Provisions on Foreign-Invested Telecommunications Enterprises (Revised in 2022)<\/h3>\n