The Hangzhou municipal government will offer 20 million yuan ($2.84 million) in subsidies to cultural companies to help them weather the difficulties resulting from the COVID-19 outbreak, according to a recent announcement made by the local government.

According to the policies, the Hangzhou government will arrange and fund charity shows by art troupes.

The government will also strengthen financial support for privately-owned cultural companies by increasing loans for them.

Cultural companies are also encouraged to take part in large cultural exhibitions. Companies that sign up for exhibitions can have up to 70 percent of the registration fees covered by the government.

The government will also set aside 20 million yuan to assist cultural companies that have been severely affected by the virus outbreak.