Huzhou in East China's Zhejiang province recently unveiled seven policy measures to stabilize its economic development amid the COVID-19 epidemic.

The measures are primarily related to matters such as investment, production, consumption, foreign trade and employment.

Specifically, manufacturing enterprises whose taxable sales revenues register a year-on-year increase of at least 10 percent in the second half of this year will be awarded by the local government.

A fund of 25 million yuan ($3.85 million) will be allocated to incentivize foreign trade companies to expand business volume.

The city also plans to increase subsidies for above-quota retail enterprises and issue another 100 million yuan worth of coupons to stimulate consumption.

Authorities will set up a special fund worth 25 million yuan to revive local cultural and tourism sectors, which have been severely hit by the epidemic.

The government will also ramp up financial support for small and micro enterprises by lowering financing costs.

In addition, more support will be given to bolstering employment and entrepreneurship. College students who come to Huzhou to seek employment or start up a business will be exempt from quarantine fees. Subsidies will also be given to those who have signed employment contracts with local enterprises.

Companies funded by premium talents at provincial level or above or included in the "Southern Taihu Lake Elite Plan" will be entitled to an interest-free loan of up to 10 million yuan.