TWELVE industry associations, districts and relevant government agencies across the city called for rent reductions for companies and individual businesses to help reduce their costs amid the virus outbreak.

The 12 industry associations, including the Shenzhen General Chamber of Commerce, Shenzhen Retail Business Association, Shenzhen Cuisine Association and Shenzhen Garment Industry Association, have recently released a proposal urging landlords and financial institutions, especially State-owned enterprises, to offer rent benefits for those seriously affected by the epidemic, according to Shenzhen Special Zone Daily.

The appeal was made given the fact that many firms, especially those in the trade industry, suffered financial difficulties such as paying rent, salaries and loan interest amid the virus outbreak.

As a result, they called for more support for small-sized firms. These associations also urged the municipal government to offer tax reductions.

In response, companies and enterprises including Ping An, Shum Yip Group, Yingxin, Wongtee, China Resources and the Higreen farm produce wholesale market have offered rent and parking fee exemptions of seven days or even longer, the Daily report said.

Several subdistricts in Longgang, together with the district industry and information technology bureau, released a rent reduction proposal to landlords Thursday.

That same day, Longgang’s State-owned assets supervision and management bureau announced that it would not charge enterprises renting State-owned lands one month of rent.

In total, the relief will amount to nearly 60 million yuan (US$8.65 million), benefiting 930 firms, according to the report.

The bureau also guided the district joint-stock company association to act. A total of 297 companies answered the call and decided to cut the rent within two days. About 5,080 enterprises will benefit from the move.

One landlord in Pingdi Subdistrict in Longgang has notified the tenants that they can enjoy a rent cut that will reduce the landlord’s income by over 1 million yuan.

Qianzhiyuan in Futian has allowed two months of free rent for the enterprises there that have postponed business operations since yesterday.

Additionally, Shenzhen SCPG, Galaxy Holding Group and Kingkey Banner all decided to offer relevant rent relief to merchants in their shopping malls.

(Wang Jingli)