Shanghai will reduce electricity and gas prices for corporate users to support their work resumption amid the coronavirus outbreak.
The Shanghai Municipal Development and Reform Commission said Sunday the price cuts are expected to save nearly 2 billion yuan (about 286 million U.S. dollars) for enterprises.
From Feb. 1 to June 30, electricity prices for enterprises, except for those with high energy consumption, are reduced by 5 percent, benefiting about 750,000 enterprises in Shanghai, the commission said at a press conference.
Medical institutions directly participating in the epidemic prevention and control are also partly exempted from the electricity bills between Feb. 7 and June 30, it said.
Gas prices are also reduced for all non-resident users. During the peak season from Feb. 22 to March 31, their gas prices will be reduced by 10 percent, while during the down season from April 1 to June 30, the reduction will be 5 percent.
A business hub in east China, Shanghai has rolled out a slew of supportive measures, including rent and fee exemption, to support companies hit by the outbreak as they gradually resumed operations.
