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Private Kindergartens in Jiangsu Get Policy Support
updated on:2020-05-21 09:45

Policy support was released by a joint effort from Jiangsu Department of Education, Jiangsu Department of Finance and Jiangsu Banking and Insurance Regulatory Bureau, aiming at ensuring a stable development for privately-funded kindergartens in Jiangsu during the COVID-19 epidemic response.

Government agencies in different localities are required to redouble financial support to private kindergartens, those with affordable accessibility in particular, by arranging all sorts of funds. Transfer funds for pre-school education from the Central Government, and comprehensive allowances should be paid to the kindergartens in a timely manner; payment of the 2020 fiscal appropriation for preschoolers’ public expenses will be accelerated in accordance with actual local situations. Government subsidies for private kindergartens with affordable accessibility must be implemented. Private kindergartens, once identified and announced by the local government for being compliant with law and regulations and whose charges are less than twice of those of the public kindergartens, will get indiscriminating fiscal appropriation for preschoolers’ public expenses as public kindergartens do.

Departments of Education in different localities are required to play an active role in working with departments of finance, human resources and social security and tax authorities to implement preferable policy measures concerning rental and taxation in a pragmatic manner to ensure normal operation of the private kindergartens during COVID-19 epidemic.

Banking institutions are encouraged to expand credit loans with less interest rate to those privately-funded kindergartens qualified for borrowing from banks. It is also suggested that for those kindergartens affected by the epidemic and faced with due loans, the banking institutions offer roll over, deferred payment of interest, and zero interest penalty to facilitate kindergartens in loan repayments, with the final deadline date as late as 30, June this year. As for a few very promising kindergartens that are severely affected by the epidemic and require longer time to recover normal operations, banking institutions are expected to engage in consultation with those debtors to work out solutions for principal repayments.  

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