43 enterprises get cash grants from Wudang government

An aerial view of the Wudang district of Guiyang. [Photo/WeChat of Wudang]

The Wudang district of Guiyang – capital city of Southwest China's Guizhou province – on May 30 issued cash grants to 43 companies under its jurisdiction involving a total of 2.35 million yuan ($352,588).

The move was in line with Wudang's policies to develop business entities – ranging from single traders, to partnerships and up to full companies – and to return its economy back to normal, after the downward pressure exerted by the COVID-19 outbreak.

The policy applies to enterprises registered after October the previous year and whose monthly accumulated main business income meets certain conditions. Those above a designated size – with annual sales of 20 million yuan ($2.99 million) or more – stand to get a cash grant of 80,000 yuan.

Enterprises registered prior to October last year, whose annual cumulative main business income meets conditions for firms above a designated size, will each get a grant of 500,000 yuan.