MNCs moving full steam ahead
Jiang from Roland Berger noted that some of the policy highlights include a torrent of financial and legal support to small and even micro enterprises, which constitutes part of the company's downstream customers. "These measures are conducive to addressing capital shortages and maintaining overall market stability," he said.
"Even for large companies like us, the cash situation is very much challenged by the tremendous reduction in revenues," said Francois Tardif, president of Faurecia China.
Tardif also appreciated measures on the postponed adjustment of the social security payment base and the extension of payment period, saying they are "of great support" at such a special period of time.
From late February, the Shanghai Municipal Commission of Commerce has kicked off a two-week survey on a select group of foreign enterprises in the city to help them better resume operations and attend to any unmet needs in the midst of the novel coronavirus outbreak.
The purpose of the survey is to get a clearer picture of the prevention and control measures multinational corporations have taken against the virus and to solve problems that prevent them from returning to operational normalcy. The survey is conducted primarily through on-site inspections, coupled with seminar discussions and questionnaire-based surveys.
"Government officials from both the municipal and district levels have toured our plant, interacted with our on-site staff members and helped solve any problems on the spot," said Charles Kao, China president of Amorepacific, a South Korean cosmetics company.
Thanks to the numerous favorable policies, Kao said his company has seen a number of glitches being quickly ironed out, such as the logistical hurdles encountered by two downstream suppliers and the shortage of surgical masks.
The recent surge in novel coronavirus cases in South Korea has not hindered Amorepacific's China operations. Yet the company has still taken some precautionary measures, such as removing the shared dishes from the menu at its canteen and adopting shift work mechanisms to minimize interaction.
Not only companies with major manufacturing bases stand to enjoy such perks. The Shanghai office of MSL, a public relations agency, was provided with a package of accommodation subsidies for its employees who suffered losses in rent owing to the temporary restrictions of population flows.
"The Putuo district officials (in Shanghai) have been very helpful, attending to our most pressing needs two days prior to the resumption of work," said Liza Zhang, general manager of MSL Shanghai.
Apart from delivering sanitary goods such as surgical masks, hand sanitizers, hand wipes and alcohol cleansers, they were informed of a 12-point measure by the district government to tackle difficulties for companies.
"We are deeply touched and heartened by the level of attentiveness, responsiveness and the extent of help," Zhang said. "Big and small foreign entities alike get to receive such warmhearted treatment."
