On 29 May 2022, the Shanghai Municipal government announced several measures for stabilising the Shanghai economy. Namely, the measures support small and micro companies and severely affected sectors including catering, retail, tourism and so forth. Below we summarise the announced measures for businesses in Shanghai. Deferring social insurance payment for companies in catering, retail, tourism…
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Central Bank Digital Currencies (CBDCs) is an electronic form of currency and developed by the government to supplement traditional fiat money such as backnotes and coins. With the accelerating digital economy around the world, digital currency allows government and financial institutions to continue the transition to digital infrastructure and increase access to financial services. Namely…
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In Shanghai, the citywide lockdown from 1 April has continued into May and more cities are experiencing epidemic control and prevention measures. As a result, companies may face difficulties rendering contractual obligations, for example inability to continue manufacturing goods or performing services under terms agreed in commercial contracts signed before the lockdown. Under such cases,…
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