Economic Relief Measures for Enterprises in China due to the Current Covid Situation

With the appearance of the easier transmissible Omicron variant of COVID-19 it became considerably more challenging for the authorities of the People’s Republic of China to achieve their zero-COVID goal. Various COVID outbreaks in different parts of the PRC in winter/spring 2022 led to a variety of measures, including the lockdown of whole cities and municipalities. The most severe lockdown in that period is the lockdown of the municipality of Shanghai, where 25 million people, including the authors of this newsletter, were placed under strict lockdown, and which, at the time of writing, is still ongoing. The economic effects of such measures are massive. With the goal to alleviate some of these effects, the Chinese authorities implemented some economic relief measures. Our newsletter, which is accessible through the above link, intends to outline some of the most important of these measures, with a focus on the situation in the municipality of Shanghai.