From January to June this year, the cost burden of enterprises in Zhejiang province was reduced by 265.2 billion yuan ($37.92 billion), far exceeding last year's figure of 228 billion yuan, local media reported.

Since the COVID-19 outbreak, Zhejiang has been adhering to the implementation of tax and fee reduction policies as an important means of boosting enterprises' confidence.

As early as Feb 10, due to the common problems caused by the outbreak, such as difficulties in resuming work and production and shortages of working capital, Zhejiang formulated a highly targeted policy to reduce these burdens and reassured enterprises.

Since then, in response to the new problems caused by the spread of the virus, Zhejiang has introduced timely policies to help enterprises stabilize their foreign trade and expand their markets. The province has issued two batches of comprehensive burden reduction policies for large enterprises, and two batches of burden reduction policies for small and micro enterprises.

According to officials, this year, the intensity of the burden reduction policy in Zhejiang is significantly greater than in previous years, and the precision of the policy is also significantly improved, which has played a positive role in reducing the impact of the pandemic and helping enterprises to overcome difficulties.