Shandong launches government procurement 'advance payment' system to assist in resuming work and production

Shandong launches government procurement 'advance payment' system

More than 2.4 billion yuan in employment and entrepreneurship funds to support resumption of work and production

In order to effectively respond to the impact of the epidemic, alleviate the difficulties of enterprise capital turnover, and assist enterprises in resuming work and production, Shandong Province recently launched a government procurement "advance payment" system. Each procurement unit shall agree on a prepayment in the government procurement contract, with a prepayment ratio of not less than 30% of the contract amount. The prepayment shall be made within 5 working days after the government procurement contract is signed and effective and meets the implementation conditions. For procurement projects that rely mainly on manual input, the advance payment ratio should be appropriately reduced. The maximum prepayment ratio for procurement contracts related to epidemic prevention and control can reach 100%, effectively enhancing the supplier's ability to fulfill their obligations.

Since the outbreak of the epidemic, the finance of Shandong Province has made stabilizing employment a top priority in current financial support for epidemic prevention and control and economic and social development, and has made every effort to ensure the implementation of various employment and entrepreneurship policies. This year, the provincial finance will coordinate central subsidy funds, provincial general public budgets, and social security fund budgets to allocate 2.431 billion yuan in funds to promote employment and entrepreneurship, fully supporting local enterprises to resume work and production.

In response to the high demand for funds and urgent feedback from enterprises regarding the unemployment insurance stabilization and return policy, our province has guided some regions to establish a stabilization subsidy prepayment system, and urged city and county finance departments to simplify the fund disbursement process and continuously improve the efficiency of fund disbursement. At the same time, the provincial finance has allocated a one-time subsidy of 400 million yuan for stabilizing employment to the provincial social security agency, effectively improving the efficiency of fund allocation and ensuring that enterprises fully enjoy policy dividends.

Information source: Xinhua News Agency Shandong Channel

Editor He Yang of this website/Organizing