Taicang City, known as the hub for German companies in China, has rolled out 12 measures to help epidemic-hit enterprises including more financial support, keeping employment stable and other policy incentives, as companies resume operation on February 10, following the extended Spring Festival holiday due to the novel coronavirus pneumonia.
Taicang High-tech Zone, home to over 300 Germany-funded enterprises and other investment from Europe and the United States, has also made specific moves to assist such enterprise resume operation
Schaeffler Group, a Germany-based global automotive and industrial supplier, is the largest industrial company in terms of output value in Taicang. It has prepared production materials in advance and worked out a plan and logistics arrangements in accordance to government regulations. Schaeffler has also donated 6 million yuan to support the fight against novel coronavirus epidemic.
Georg F. W. Schaeffler, chairperson of the Supervisory Board of Schaeffler AG and shareholder of the Schaeffler Group, said Schaeffler Greater China is an important part of the group’s global business and Schaeffler remains confident of China and China’s economic growth in the long-term, although the country is currently in a difficult period.