Tax authorities in Zhangjiagang introduced an array of preferential?policies to promote the recovery of the local economy, which has been adversely affected by the COVID-19 epidemic, according to local media reports on May 10.

The COVID-19 epidemic had an unprecedented impact on the city's economic and social development, and tax authorities have stepped up efforts to revitalize the most affected industries, including tourism, hospitality, catering, retail sales and after-school training sectors.

"Due to the epidemic, my store has suffered a huge loss in income over the past several months. The implementation of?tax?cuts?and?fee?reductions will help us reduce?operational costs and overcome difficulties during this trying time," said Zhang Wenyan, a restaurant owner in Zhangjiagang.

According to an official from the city's tax department, the preferential value-added tax policy for the service sector will aid in the?recovery?and development of the city's local economy.

Tax authorities will promote the implementation of preferential tax policies aiming to benefit high-tech enterprises and foreign trade firms which are facing unprecedented difficulties, aiming to promote the development of certain key projects to counter the impact of the pandemic and stabilize the local economy.