The number of companies that have benefited from the policy was three times that of last year, the ministry said.

Such a policy aims to stabilize employment and minimize layoffs in the world's second-largest economy as the country strives to blunt the impact of the novel coronavirus epidemic on the economy and social life.

Chinese authorities have taken multi-pronged measures to help micro, small and medium-sized enterprises tide over and secure job positions for staff. The measures included cutting tax burdens and boosting credit support for them.