Due to the ongoing situation of COVID-19 in China, especially in Shanghai, the Chinese government has introduced more regulations and policies or extended the deadline of the previously issued regulations and policies to further support both the economic development and the business. In this Newsletter, we will share with you detailed provisions of these policies in Shanghai focusing on the topics of labor and employment, leasing, tax, etc. Depending on the location of your business, there could be more specific implementation rules at local level.
The current situation related to the announced state of epidemic and the significant restrictions on the activities of commercial entities resulted not only in a sharp decline in turnover of companies, but also in difficulties in fulfilling tax obligations or obligations arising from commercial agreements. Due to the growing negative effects of the pandemic, it is obvious that entrepreneurs are putting off other statutory obligations.