Shenzhen rolled out 30 policies to help enterprises and businesses affected by the COVID-19 epidemic overcome their difficulties.

Experts said this was the most potent bailout package the city has released so far and is vital to easing the epidemic’s pressure on the economy. The policies include tax cuts, fee exemption, and rent subsidies, and their pertinence are praised by the targeted market entities they are intended to serve.

It is expected that these policies will help enterprises and businesses reduce their financial burdens by about 75 billion yuan ($11.78 billion).

Huang Qiang, deputy secretary-general of the Shenzhen municipal people’s government, said: “The purpose of these policies is to try to protect the market entities and stimulate their creativity to release more potential and impetus to drive the economic development.”

Shenzhen’s series of actions to assist enterprises have injected confidence and power into the enterprises.