North China’s Inner Mongolia autonomous region has responded to the impact of the novel coronavirus epidemic on its eldercare services by issuing a policy called Several Measures on Supporting the Elderly Service Industry to Relieve Difficulties during the Epidemic Prevention and Control Period.

Local officials said that under the policy, Inner Mongolia will support the autonomous region’s eldercare businesses in eight specific areas.

They said that profit-making eldercare service companies or institutions that are unable to pay taxes on time due to business difficulties caused by the epidemic will be given a reprieve. For them, deferred tax payments will be permitted in accordance with the law and the approval of relevant tax authorities. The maximum deferred payment time shall not exceed three months, they said.

Officials said that all eldercare service businesses in Inner Mongolia are being allowed to reduce or defer payments of social insurance fees, as well as being allowed to delay payments of housing provident funds.

Private eldercare businesses that rent operation space will be exempted for two-months of rent. Meanwhile, for those having difficulties paying, the rent payment may be postponed. 

Officials said that for eldercare services that have development prospects but are temporarily affected by the epidemic, authorities will instruct financial institutions not to blindly withdraw or break loans.

They also said that support for financial guarantees can be increased to alleviate the “difficult financing” and “expensive financing” issues of enterprises.

Officials said that endowment insurance underwriting agencies will be ordered to open up fast-track channels for accidents for liability insurance coverage of the eldercare businesses during the epidemic.

They said that these will simplify claims procedures and ensure claims are compensated as quickly as possible, to ease the capital pressure on the eldercare companies.