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Zhejiang's service industry rescue effectiveness ranks among top in the country

ezhejiang.gov.cn| Updated :2022-08-19

Zhejiang province's total retail sales of consumer goods increased 9.2 percent year-on-year in July, according to the latest figures released by authorities in East China's Zhejiang province.

Specifically, retail sales of goods grew 10.0 percent, while catering revenue rose 3.1 percent.

Since the beginning of this year, authorities in East China's Zhejiang province have issued 53 policies to help its service industry weather the impact of domestic COVID-19 outbreaks.

Among these policies, those related to rent reduction and exemption for State-owned businesses, tax reduction and fee reduction, and subsidies for epidemic prevention expenditures have been ranked among the most effective in the country.

According to statistics, the amount of tax and rental reductions provided to the service industry amounted to 27.97 billion yuan ($4.11 billion) from January to July. These reductions had benefited 1.275 million service industry enterprises.

Meanwhile, the year-on-year growth rates of credit balance in wholesale and retail, accommodation and catering, and transportation industries reached 17.9 percent, 9.9 percent, and 11.5 percent respectively.

In addition, 11 districts and cities in Zhejiang have issued 4 billion yuan worth of consumer coupons so far this year. These coupons have helped drive consumption worth more than 40 billion yuan.

Data shows that the tourism climate index of the province stood at 74.9 from January to June, a month-on-month increase of 11.4 percent. The entrepreneur confidence index was 105.7, the first time this year it is in the positive range.