The Luohu Tax Bureau recently introduced preferential tax policies to the gold and jewelry industry, which has been hit hard by the COVID-19 pandemic.

According to the bureau, employers who pay for their employees' social security premiums can apply for subsidies as high as 50,000 yuan ($7,415) each.

To ensure relevant enterprises can enjoy the bonus of preferential tax policies, the Luohu Tax Bureau took the initiative to contact them and help them apply for the social security subsidies. The bureau found that nearly 700 small and micro-sized enterprises in Luohu are qualified to apply for the support. So far, a total of 1.55 million yuan of subsidies have been allocated to the enterprises.