Policies rolled out by the city of Harbin in Northeast China’s Heilongjiang province -- in response to the needs of small and micro-sized enterprises that are resuming operations and production -- have taken effect, according to local officials.

They said that since Feb 6, the Harbin government has successively issued seven policy documents, designed to stabilize jobs and help businesses reduce their financial pressures.

As of June 8, Harbin’s 839,300 enterprises reportedly benefited from the preferential policies. The accumulated funds channeled by the local government towards various types of exemptions, reimbursements and extensions of corporate financing totaled 71 billion yuan ($10.05 billion), officials said.

Of that, 3 billion yuan in funds were set up to stabilize jobs, with 1.18 billion yuan having been allocated.

Officials said the Harbin financial bureau has coordinated with the industry departments to include 9,161 Harbin enterprises on Heilongjiang province's financial support list for enterprises.

Of these, 3,180 enterprises from Harbin have received loans of 18.14 billion yuan, with the loan amount accounting for 45.8 percent of the province's total.

In support of policy-based financing guarantees, the Harbin guarantee center has secured 6.54 billion yuan of loans for 892 enterprises. The guarantee fees and handling fees were reduced by 16.08 million yuan.

To implement the polices to support businesses, the Harbin taxation department sent out 150,000 policy information sheets to more than 400,000 enterprises. It reduced or exempted 320 million yuan in tax rebates for nearly 20,000 taxpayers, and handled deferred tax payments of 978 million yuan.

Officials said the office of human resources and social security has provided 113 million yuan in subsidies for job stability to more than 12,000 small and medium-sized enterprises.

It has also reduced and exempted social security expenses of 2.19 billion yuan and 1.2 billion social insurance expenses were refunded, benefiting 49,000 enterprises.