Shanghai has announced a number of supportive policies covering capital, land, talent and the business environment in the latest bid to revitalize its COVID-battered economy.

It vows to speed up the capital allocation for enterprises, optimize the use and assessment of special-purpose funds, and coordinate the use of subsidies for rent, loan interest, guarantee fees, and employment stabilization so as to help enterprises with operating difficulties, Shanghai Vice Mayor Wu Qing told a press conference held on Sunday afternoon.

Seamless loan renewals will be provided for micro, small and medium-sized enterprises, initial public offerings are encouraged, and for privately-held companies, their bond financing trading fees will be exempted as much as possible.