Guangzhou earmarks 83bn yuan in savings

Guangzhou’s government has announced no fewer than 48 measures designed to help the economy recover, which can help the city’s enterprises save up to 83 billion yuan. Moreover, another 130 billion yuan of working capital can be expanded through the measures, the government announced.

The construction industry will also be a key beneficiary soon of a ramp-up in existing projects as well as the rollout of new ones. All projects under construction have been told they must resume work before the end of March, while more than 100 new projects are targeted for launch before then as well. By the end of May, another 200 will be launched.

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