Tianjin Updates

Binhai companies resume production

(exploringtianjin.com)

Updated: 2020-02-17

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As of Feb 14, a total of 721 companies, including 85 from overseas, had resumed operations and production in Binhai New Area, according to a press conference organized by the local government on Feb 16.

The number includes 398 companies that kept up smooth operations during the Spring Festival holiday and 245 companies engaged in essential sectors and industries such as urban and rural operations, energy, logistics, healthcare, daily necessities, public services, and major projects.

Banks and relevant government departments have also opened green channels and simplified procedures for companies who wish to apply for loans.

For example, Etong Financial Leasing Company (Tianjin) successfully applied for a 20 million yuan ($2.87 million) loan in just four days through an online service platform, which was created by Binhai Dongjiang Free Trade Port Zone management committee in order to facilitate companies’ finances.

Binhai Hi-Tech Industrial Development Area has also put in place favorable policies and measures to facilitate local companies in resuming safe production amid the current coronavirus outbreak.

The management committee of the area has issued 100 million yuan in subsidies and provided anti-epidemic supplies to help enterprises fight the novel coronavirus and resume production.

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Local business Tianjin Lishen Battery Joint-Stock Company, an important major player in the global lithium ion battery industry, has steadily worked back up to its normal output to meet international orders.

The company now supplies more than 200,000 phone and computer batteries, with 30 percent of its production capacity ordered by international customers.

Wang Nianju, executive vice president of Lishen Battery said: "International customers like Samsung Electronics, Google, and Amazon have very heavy demand. We are doing our best with the help of government to restore our capacity to 80 percent within one month.”

Binhai New Area has established eight guidance groups to support the resumption of production. To ensure the safety of employees, companies must meet strict requirements and conditions before they resume work.

 

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