Home > Latest

Wuxi takes measures to support virus-hit film industry

Updated : 2020-02-20
(chinadaily.com.cn)

East China's Jiangsu province released a slew of measures on Feb 18, including tax cuts and other forms of financial support, to help film-related businesses weather the novel coronavirus epidemic.

Wuxi has designated the film and TV industry as a focus for development in recent years, and has been formulating a number of supportive measures for the industry.

For films and TV series that were under production at the Wuxi National Digital Film Industrial Park, also known as Wuxi Studios, but were forced to halt production due to the epidemic, the park waived all studio rental and management costs since Jan 31 until they are allowed to resume work.

Those who shoot films and TV series at Wuxi Studios after the end of the epidemic will enjoy a rent discount of up to 50 percent until Dec 31, 2020. Fees for other location work, hotels, shooting equipment, and more will also be reduced by up to 50 percent.

All companies at Wuxi Studios will enjoy a reduction or waiving of rent.

The new policy released by the provincial government also encourages financial institutions to increase credit, extend loan periods, and reduce lending rates for film companies. A fund of 10 million yuan ($1.43 million) will be set up to subsidize lending costs.

The province will also step up support for reducing rent and stabilizing employment for small and medium-sized film companies. Businesses such as cinemas will enjoy government subsidies if they launch training programs for employees, according to the policy.

Wuxi Studios also said it will work to help its companies apply for financial support.

8.03K
Videos
 
z3.jpg

Ancient tea ceremonies brewed up at teapot exhibition

yb2.jpg

Changjing-style mooncakes popular among locals

y1.jpg

Yixing ranks high nationally for rural tourism

m1.jpg

In pics: Meili town beautiful under clear sky

News
Sports
Videos
Photos
Business
Biz Updates
Industries
Development Zones
Companies
Travel
Attractions
Dining
Accommodation
Shopping
Entertainment
Transportation
Maps
Culture
Culture News
Heritage
Museums
Events
Services
Visa
Marriage
Healthcare
Jobs
Education
Useful Info
Government
Mayor
Departments
Districts
Policies
About
Overview
Statistics
Sister Cities
E-books
Copyright © China Daily. All rights reserved.
The Information Office of Wuxi Municipal People's Government.
Presented by China Daily.
备案号:京ICP备13028878号-34