A clerk counts cash at a bank in Huaibei, Anhui province. [Photo provided to China Daily]

-- Deferring income tax payment

China will defer income tax payments for small companies with thin profit margins, as well as individually owned businesses, to help them resume business and production, said the State Taxation Administration.

Small companies with thin profit margins are allowed to suspend payments of corporate income tax from May 1 to Dec 31 this year until the first filing period in 2021, once they complete required filing procedures, according to a statement published on May 29.

Individual business owners can delay payments of individual income tax incurred in the same period until the first filing period next year, the statement said.

-- Efforts to stabilize employment

Chinese authorities on July 16 released a circular aimed at supporting small stores as part of efforts to increase employment, expand consumption and improve people's livelihoods.

The circular, jointly issued by the Ministry of Commerce and six other government departments, detailed measures to develop 1,000 clusters of small stores nationwide by 2025.

E-commerce platforms, logistics firms, trading enterprises and central kitchens are encouraged to cooperate with small stores to reduce their costs, according to the circular.