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Xinjiang rolls out financial support for virus-hit companies

URUMQI, March 16 (Xinhua) -- The government of northwest China's Xinjiang Uygur Autonomous Region has introduced a slew of fiscal and tax policies since early March to support local companies to resume operations.

According to the regional finance department, preferential policies offering tax and fee reductions have been implemented to inject vitality into the hardest-hit industries such as transportation, catering, hotels and tourism.

Individuals and small and micro-businesses that have lost their source of income due to the coronavirus outbreak should be given priority when applying for loans, the government said.

Government-purchased chartered bus services are encouraged to send out and take back workers. So far over 140,000 migrant workers have returned to work.

Besides, subsidies will be provided to companies with low layoff rates, the government said.